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Published: 2024-02-27T02:49:22.000Z

Chart USD/THB Update: Limited on pullback, room for lower later

byPakLai Ng

Technical Analyst
-

Still limited on probes below the 35.88 support but pressure building on the downside from the 36.20 highs

 

 Level Comment  Level Comment
R436.50 congestion S135.74 22 Feb low     
R336.34*Nov high S235.66*13 Feb low
R236.20*14 Feb high S335.50*congestion
R136.00 congestion S435.44*7 Feb low

Asterisk denotes strength of level

02:45 GMT - Still limited on probes below the 35.88 support but pressure building on the downside from the 36.20 high. Negative daily studies seen weighing and suggest consolidation giving way to deeper pullback later. Break of the 35.74 low will see room to the 35.66 support then the 35.60/35.50 area. Meanwhile, resistance remains at the 36.00 level then the 36.20 high. Only break of these will further extend gains from the late-December low and see room to the 36.34/36.40 area and 36.50 level.

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Topics
USD/THB-TA
EM-Technical
Technical Analysis

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