Published: 2025-01-23T03:04:39.000Z
Chart USD/THB Update: Consolidating, room for lower later
Technical Analyst
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Edged up from the 33.78 low as prices consolidate losses from the 34.84 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.68 | * | Dec high | S1 | 33.65 | ** | 10 Dec low, 50% | |
| R3 | 34.50 | ** | congestion | S2 | 33.50 | * | congestion | |
| R2 | 34.20/35 | * | congestion, 17 Jan low | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 34.00 | * | congestion | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
03:00 GMT - Edged up from the 33.78 low as prices consolidate losses from the 34.84 high. Bounce here see prices unwinding oversold intraday studies but negative daily studies suggest gains likely to be limited and expected to give way to renewed selling pressure later. Break of the 33.78 low and 33.65 support will extend losses to retrace the September/November rally. Meanwhile, resistance is lowered to the 34.20/34.35 congestion area which is expected to cap and sustain losses from the 34.84 high.