Published: 2025-08-04T03:09:21.000Z
Chart USD/THB Update: Rejection from 32.88 high weighs
Technical Analyst
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Sharp rejection from the 32.88 high see the resulting outside range reversing gains from the 32.10 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.05 | ** | Jun high | S1 | 32.30 | * | Jun low | |
| R3 | 32.88 | ** | 1 Aug high | S2 | 32.10 | ** | 24 Jul YTD low | |
| R2 | 32.75 | * | congestion | S3 | 32.08 | ** | Feb 2022 year low | |
| R1 | 32.60 | * | congestion | S4 | 32.00 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Sharp rejection from the 32.88 high see the resulting outside range reversing gains from the 32.10 low. Break of support at the 32.50 level return focus to support at the 32.30, June low. Below here will expose the 32.10 low to retest and threatens break to extend the underlying bear trend from 2022 high. However, oversold weekly studies suggest losses to give way to consolidation here and the 2022 year low at 32.08. Meanwhile, resistance is lowered to the 32.60/32.75 area and is expected to cap and keep pressure on the downside.