Published: 2023-12-11T05:22:53.000Z
Chart USD/THB Update: Extending gains
Technical Analyst
-
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 36.34 | 1 Nov high | S1 | 35.38 | 30 Nov high | |||
| R3 | 36.16 | * | 13 Nov high | S2 | 35.00 | * | 17 Nov low | |
| R2 | 36.08 | * | 12 Oct low | S3 | 34.57 | * | 29 Nov low | |
| R1 | 35.74 | * | Jun high | S4 | 34.50 | * | congestion |
Asterisk denotes strength of level
05:15 GMT - Consolidation below the 35.38/35.50 resistance has given way to break higher to extend gains from the November low. Nearby see resistance at the 35.74 high of Jun and clearance here will open up strong resistance at the 36.00/36.08 congestion and low of 12 Oct. Gains are seen corrective of the Oct/Nov losses and expected to give way to selling pressure later. Meanwhile, support is raised to the 35.38 and break here will return focus to the downside for retest of the 35.00 level. Below this will see scope for retest of the 35.57 low.