Published: 2026-03-02T03:10:10.000Z
Chart USD/THB Update: Extend bounce from 31.00 level
-
Consolidation above the 31.00 level has given way to bounce as prices unwind the oversold daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 31.80 | * | congestion | S1 | 31.00 | * | Dec low | |
| R3 | 31.70 | * | congestion | S2 | 30.86 | ** | 28 Jan YD low | |
| R2 | 31.58/60 | ** | Sep low, congestion | S3 | 30.80 | * | congestion | |
| R1 | 31.40 | * | congestion | S4 | 30.65 | * | 18 Mar 2021 low |
Asterisk denotes strength of level
03:00 GMT - Consolidation above the 31.00 level has given way to bounce as prices unwind the oversold daily studies. Break above the 31.21 resistance see room for stronger gains to 31.40 resistance. Break here, if seen, will open up room for extension to the strong resistance at 31.58/31.70. Beyond this will see scope for retest of the 31.89, February current year high. Meanwhile, support at the 31.00 congestion and 30.86 January current year low now expected to underpin and unwind oversold daily and weekly studies.