Published: 2025-03-21T02:37:12.000Z
Chart USD/THB Update: Extending bounce from 33.55/50 support
Technical Analyst
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Consolidation at the 33.55/33.50 support has given way to bounce as prices unwind the oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.32 | ** | 3 Mar high | S1 | 33.65 | * | Dec low | |
| R3 | 34.25 | * | 12 Feb high | S2 | 33.50 | * | 5 Feb low | |
| R2 | 34.00 | ** | congestion | S3 | 33.37 | ** | 24 Feb YTD low | |
| R1 | 33.80 | * | congestion | S4 | 33.30 | * | 61.8% Sep/Nov rally |
Asterisk denotes strength of level
02:30 GMT - Consolidation at the 33.55/33.50 support has given way to bounce as prices unwind the oversold intraday and daily studies. Resistance is at 33.80 and clearance here will see room for extension to the 34.00 congestion which is expected to cap. Break here, if seen, will see room to retest strong resistance at the 34.25/34.32 highs. However, corrective bounce expected to give way to fresh selling pressure later. Break of 33.55/33.50 support will expose the 33.37 February YTD low to retest and where break will extend the broader losses from November high at 35.17.