Published: 2024-12-02T02:40:20.000Z
Chart USD/THB Update: Higher in consolidation from 34.20 low
Technical Analyst
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Higher to extend bounce from the Friday's low at 34.20 as prices consolidate losses from the 35.17 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 35.17 | ** | 14 Nov high | S1 | 34.20 | * | 29 Nov low | |
| R3 | 35.00 | * | congestion | S2 | 34.00 | ** | congestion, 38.2% | |
| R2 | 34.79 | * | 22 Nov high | S3 | 33.83 | * | Aug low | |
| R1 | 34.50 | * | congestion | S4 | 33.65 | * | 10 Oct high, 50% |
Asterisk denotes strength of level
02:30 GMT - Higher to extend bounce from the Friday's low at 34.20 as prices consolidate losses from the 35.17 high and unwind the oversold intraday studies. Bounce see resistance starting at 34.50 and clearance here will see room for stronger gains to the 34.79 resistance. However, gains are seen corrective and lower high sought to further pressure the downside later. Break of the 34.20 low will see room to the 34.00, congestion and 38.2% Fibonacci retracement. Lower still, will see scope to the 33.83 support then 33.65, 50% Fibonacci level.