Published: 2025-03-17T02:55:15.000Z
Chart USD/THB Update: Under pressure
Technical Analyst
-
Leaning lower following rejection from below the 34.00 level last week to pressure the 33.65/60 area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.65/60 | * | Dec low, congestion | |
| 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
02:50 GMT - Leaning lower following rejection from below the 34.00 level last week to pressure the 33.65/60 area. Break here will open up room for retest of the 33.50 and 33.37, February lows. Below these will extend the broader losses from November high at 35.17 to retrace gains from the September low to the 33.30, 61.8% Fibonacci level. Lower still will turn focus to the 33.08, 18 October low. Meanwhile, resistance at the 34.00 level expected to cap and sustain losses from the 34.32 bounce high.