Published: 2025-04-16T02:59:58.000Z
Chart USD/THB Update: Extending losses
Technical Analyst
-
Prices remain under pressure and break of the 33.55/33.50 support extending losses to retest the 33.37 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | Nov high | S1 | 33.37 | ** | 24 Feb YTD low | |
| R3 | 34.32 | * | Mar high | S2 | 33.30 | * | 61.8% Sep/Nov rally | |
| R2 | 34.00 | * | congestion | S3 | 33.08 | * | 18 Oct low | |
| R1 | 33.65 | * | Dec low | S4 | 33.00 | * | congestion |
Asterisk denotes strength of level
03:00 GMT - Prices remain under pressure and break of the 33.55/33.50 support extending losses to retest the 33.37 low. Break here will extend the broader losses from the November high and see room to the 33.30, 61.8% Fibonacci level. Lower still, open up deeper pullback to the 33.08/33.00 area. Meanwhile, resistance remains at the 33.65 low of December. Gains above here, if seen, will open up room for stronger corrective bounce to the 34.00 congestion which is expected to cap.