Published: 2025-05-22T03:07:38.000Z
Chart USD/THB Update: Consolidating retest of 32.56 low, scope for break
Technical Analyst
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Sharply lower to extend steep losses from resistance at 33.50 congestion to reach the 32.56 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion, 38.2% | S1 | 32.56 | ** | Jan 2023 year low | |
| R3 | 33.25 | * | congestion | S2 | 32.35 | * | 1 Oct low | |
| R2 | 33.00/05 | * | congestion, Apr low | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 32.86 | 20 May low | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:00 GMT - Sharply lower to extend steep losses from resistance at 33.50 congestion to reach the 32.56 support. Reaction here see prices unwinding oversold intraday studies but negative daily studies highlights scope for break to extend the broader losses from November 2024 high. Lower will see room to 32.35 support then the 32.14, 2024 year low. Meanwhile, resistance is lowered to the 32.86 which extend to the 33.00/05 congestion and April low. These are expected to cap corrective bounce and sustain losses from the 35.00, April high.