Published: 2025-03-26T02:50:01.000Z
Chart USD/THB Update: Limited above 34.00 level
Technical Analyst
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No follow-through on break of the 34.00 level as prices unwind the overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.65 | * | Dec low | |
| R3 | 34.32 | ** | 3 Mar high | S2 | 33.50 | * | 5 Feb low | |
| R2 | 34.25 | * | 12 Feb high | S3 | 33.37 | ** | 24 Feb YTD low | |
| R1 | 34.00 | * | congestion | S4 | 33.30 | * | 61.8% Sep/Nov rally |
Asterisk denotes strength of level
02:45 GMT - No follow-through on break of the 34.00 level as prices unwind the overbought intraday studies. However, further gains cannot be ruled out and clearance will see room for extension to the strong resistance at the 34.25/34.32 highs. Corrective gains are expected to give way to fresh selling pressure later with support raised to the 33.65, December high. Break here will return focus to the 33.55/33.50 support and the 33.37 February YTD low to retest. Below this will extend the broader losses from November high to further retrace gains from the September low.