Published: 2024-10-30T02:42:40.000Z
Chart USD/THB Update: Ranging below the 33.83/87 resistance
Technical Analyst
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Little change, as prices extend consolidation below the 33.83/87 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.33 | * | 3 Sep high | S1 | 33.65 | * | 10 Oct high | |
| R3 | 34.10 | * | Dec low | S2 | 33.50 | * | congestion | |
| R2 | 34.00 | * | 38.2% Jun/Sep fall | S3 | 33.08/00 | ** | 18 Oct low, congestion | |
| R1 | 33.83 | * | 30 Aug low | S4 | 32.80 | * | 25 Sep high |
Asterisk denotes strength of level
02:40 GMT - Little change, as prices extend consolidation below the 33.83/87 resistance. However, the resulting flag pattern suggest scope for break higher to further extend gains from the 32.14, September low to retrace steep losses from the June YTD high. Higher will see room to the strong resistance at the 34.00/34.10, 38.2% Fibonacci retracement and December low. Meanwhile, support remains at the 33.65/33.50 area which underpin. Would take break here to fade the upside pressure and see room for pullback to the 33.08/33.00, support and congestion area.