Published: 2024-09-10T03:04:27.000Z
Chart USD/THB Update: Extending gains from 33.35 low
Technical Analyst
2
Pressure remains on the upside and break above the 33.83 resistance see room to extend gains from the 33.35 low of Friday
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.50 | * | May 2023 low | |
| R3 | 34.34 | ** | 3 Sep high | S2 | 33.35 | ** | 6 Sep YTD low | |
| R2 | 34.10 | * | Jan low | S3 | 33.20 | * | Apr 2021 year high | |
| R1 | 34.00 | * | figure | S4 | 33.00 | * | figure, congestion |
Asterisk denotes strength of level
03:00 GMT - Pressure remains on the upside and break above the 33.83 resistance see room to extend gains from the 33.35 low of Friday. Daily studies have turned up from oversold areas and suggest room to the 34.00 level then the strong resistance at the 34.10, January low. Clearance here, if seen, will see room to the 34.34 resistance then 34.50 congestion. Gains are seen corrective and lower high sought to further pressure the downside later. Break of the 33.50 support and 33.35 low will see room for extension to 33.20 support then the 33.00 figure.