Published: 2025-02-18T02:46:02.000Z
Chart USD/THB Update: Consolidating at 33.58 low
Technical Analyst
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Turning higher from the 33.58 low as prices consolidate losses from the 34.25 bounce high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.58 | * | 14 Feb low | |
| R3 | 34.35 | * | 17 Jan low | S2 | 33.50 | ** | 5 Feb YTD low | |
| R2 | 34.25 | ** | 12 Feb high | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 34.00 | * | congestion | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
02:45 GMT - Turning higher from the 33.58 low as prices consolidate losses from the 34.25 bounce high and unwind the oversold intraday studies. Negative daily have turned mixed and and suggest scope for strong bounce to resistance at the 34.00 congestion. However, this is expected to cap and keep focus on the downside for retest the 33.58 and 33.50 lows. Break of these will extend the broader losses from the 35.17 high of November to retrace rally from the September low towards 33.30, 61.8% Fibonacci level.