Chart USD/THB Update: Extend corrective bounce
Sharply higher as prices extend bounce from above the 31.74 low of last week to reach strong resistance at the 32.40/50 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.05 | ** | Jun 2025 high | S1 | 32.20 | * | congestion | |
| R3 | 32.90 | * | congestion | S2 | 31.90 | ** | Feb high | |
| R2 | 32.70 | * | congestion | S3 | 31.70 | * | 61.8% Jan/Mar rally | |
| R1 | 32.40/50 | ** | congestion | S4 | 31.60/58 | ** | congestion, 2025 yr low |
Asterisk denotes strength of level
02:45 GMT - Sharply higher as prices extend bounce from above the 31.74 low of last week to reach strong resistance at the 32.40/50 congestion area which is expected to cap. Break here, if seen, will open up room for extension to 32.70/80 area but corrective gains are expected to give way renewed selling pressure later. Meanwhile, support is raised to the 32.20 congestion. Below this will return focus to the 31.90 support and 31.74 low. Below this will further retrace the January/March rally and see room to 31.70, 61.8% Fibonacci retracement, and strong support at the 31.60/31.58, congestion and 2025 year low.