Chart USD/THB Update: Consolidating above 32.00/31.89 support
Keeping above the 32.00/31.89 support as prices consolidate losses from the 33.05 March current year high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 32.70 | * | congestion | S1 | 31.89 | ** | Feb high | |
| R3 | 32.60 | * | congestion | S2 | 31.70 | * | 61.8% Jan/Mar rally | |
| R2 | 32.40/50 | ** | congestion | S3 | 31.60/58 | ** | congestion, 2025 yr low | |
| R1 | 32.20 | * | congestion | S4 | 31.50 | congestion |
Asterisk denotes strength of level
02:45 GMT - Keeping above the 32.00/31.89 support as prices consolidate losses from the 33.05 March current year high. Intraday and daily studies have turned up from oversold readings and bounce will see resistance starting at the 32.20 congestion. Higher still, will see room to strong resistance at the 32.40/50 congestion. Consolidation is expected to give way renewed selling pressure later and break of the 31.89 support will further retrace the January/March rally and see room to 31.70, 61.8% Fibonacci retracement. Lower still, will see extension to strong support at the 31.60/31.58, congestion and 2025 year low.