Published: 2025-03-27T03:26:58.000Z
Chart USD/THB Update: Pressuring the 34.00 level
Technical Analyst
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Test of the 34.00 level has given way to consolidation 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
03:25 GMT - Test of the 34.00 level has given way to consolidation as prices unwind the overbought intraday studies. However, pressure remains on the upside and further gains cannot be ruled out. 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.