Published: 2025-05-19T02:38:26.000Z
Chart USD/THB Update: Extending consolidation below 33.50 resistance
Technical Analyst
-
Lower in consolidation from test of resistance at the 33.50 congestion and 38.2% Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.00 | * | congestion | S1 | 33.05/00 | ** | 21 Apr low, congestion | |
| R3 | 33.77 | * | 28 Apr high, 50% | S2 | 32.80 | * | congestion | |
| R2 | 33.65 | ** | Dec low | S3 | 32.56 | ** | 2023, 6 May YTD lows | |
| R1 | 33.50 | ** | congestion, 38.2% | S4 | 32.14 | ** | Sep 2024 year low |
Asterisk denotes strength of level
02:35 GMT - Lower in consolidation from test of resistance at the 33.50 congestion and 38.2% Fibonacci level. Negative intraday and daily studies weighs but pullback from the latter see support at the 33.05/33.00 congestion area which now underpin. Would take break here to open up support at the 32.80 congestion and 32.56, 6th May YTD low to retest. However, oversold weekly studies suggest these keeping out of reach and stronger corrective bounce cannot be ruled out. Would take break above the 33.50 resistance to open up room for stronger bounce to retrace the April/May losses.