Published: 04/04/25 at 02:57 UTC
Chart USD/THB Update: Room for deeper pullback from 34.45 high
Technical Analyst
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Rejection from test of the channel resistance from the November high see prices unwinding the overbought daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.68 | * | Dec high | S1 | 34.00 | ** | congestion | |
| R3 | 34.50 | * | congestion | S2 | 33.80 | * | congestion | |
| R2 | 34.45 | ** | 3 Apr high | S3 | 33.65 | * | Dec low | |
| R1 | 34.32 | * | Mar high | S4 | 33.55 | * | 18 Mar low |
Asterisk denotes strength of level
02:50 GMT - Rejection from test of the channel resistance from the November high see prices unwinding the overbought daily studies and threatens deeper pullback to retrace gains from the March low. Pullback see support starting at the 34.00 level and break here will open up room for pullback to support at the 33.80 congestion and 33.65, December low. Below these will return focus to the 33.55/33.50 lows and the 33.37 February YTD low. Meanwhile, reistance is lowered to 34.32 March high which is expected to cap and sustain pullback from the 34.45 high.