Published: 2025-04-09T03:00:07.000Z
Chart USD/THB Update: Consolidating test of 35.00 level
Technical Analyst
1
Break above the 34.84 resistance has seen extension to tag the 35.00 figure
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 35.50 | * | congestion | S1 | 34.50 | * | congestion | |
| R3 | 35.30 | * | 61.8% May/Sep fall | S2 | 34.32 | ** | Mar high | |
| R2 | 35.17 | ** | Nov high | S3 | 34.05/00 | * | 25 Mar high, congestion | |
| R1 | 35.00 | * | congestion | S4 | 33.80 | * | congestion |
Asterisk denotes strength of level
02:55 GMT - Break above the 34.84 resistance has seen extension to tag the 35.00 figure. Clearance here will see scope to retest the 35.17, November high. Would expect reaction here as prices as intraday and daily studies are deep into overbought areas. Clearance here, if seen, will see room to the 35.30, 61.8% Fibonacci level. Meanwhile, support remains at the 34.50 congestion and this extend to the 34.32 March high. This area is expected to underpin and sustain gains from the 33.55 low. Break here will fade the upside pressure and open up room for deeper pullback to 34.05/00 area.