Published: 2025-07-28T03:16:53.000Z
Chart USD/THB Update: Turned higher within a falling wedge
Technical Analyst
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Extending bounce from the 32.10 low as prices unwind oversold daily and weekly studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.37 | * | Feb low | S1 | 32.10 | ** | 24 Jul YTD low | |
| R3 | 33.05 | ** | Jun high | S2 | 32.08 | ** | Feb 2022 year low | |
| R2 | 32.75/80 | ** | 9 Jul high, congestion | S3 | 32.00 | * | congestion | |
| R1 | 32.50 | * | congestion | S4 | 31.80 | * | 76.4% 2020/2022 rally |
Asterisk denotes strength of level
03:10 GMT - Extending bounce from the 32.10 low as prices unwind oversold daily and weekly studies. Above the 32.30 sets up room to resistance at the 32.30/32.50 area. Break here will trigger stronger gains from the falling wedge pattern to retrace the November/July losses. Higher will see room to strong resistance at 32.75/80 area and 33.05, June high. Meanwhile, support is raised to 32.30 which should underpin and sustain bounce from 32.10 low. Failure here will extend the broader losses from 2022 year high.