Published: 2025-02-07T02:35:59.000Z
Chart USD/THB Update: Turned up in consolidation from 33.50 low
Technical Analyst
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Turned up from the 33.50 low as prices consolidate the losses from the 34.84, January high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.50 | ** | 05 Feb YTD low | |
| R3 | 34.35 | * | 17 Jan low | S2 | 33.30 | * | 61.8% Sep/Nov rally | |
| R2 | 34.17 | ** | 3 Feb high | S3 | 33.08 | * | 18 Oct low | |
| R1 | 34.00 | * | congestion | S4 | 32.85 | * | 76.4% Sep/Nov rally |
Asterisk denotes strength of level
02:30 GMT - Turned up from the 33.50 low as prices consolidate the losses from the 34.84, January high. Choppy trade here see prices unwinding the oversold daily studies but this is expected to give way to renewed selling pressure later. Break of the 33.50 low will extend the broader losses from the 35.17 high of November and see room to the 33.30, 61.8% Fibonacci level. Lower still, will see extension to the 33.08 support and 32.85, 76.4% Fibonacci level. Meanwhile, resistance remains at the 33.80/34.00 area which is expected to cap and sustain losses from the 34.17 high.