Published: 2025-02-27T03:18:43.000Z
Chart USD/THB Update: Extending bounce from 33.37 low
Technical Analyst
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Break above the 33.50/33.65 resistance see prices extending gains from the 33.37 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.65 | * | Dec low | |
| R3 | 34.25 | ** | 12 Jan high | S2 | 33.50 | * | 5 Feb low | |
| R2 | 34.00 | * | congestion | S3 | 33.37 | ** | 24 Feb YTD low | |
| R1 | 33.92 | * | 30 Dec low | S4 | 33.30 | * | 61.8% Sep/Nov rally |
Asterisk denotes strength of level
03:15 GMT - Break above the 33.50/33.65 resistance see prices extending gains from the 33.37 low. Daily studies have turned up from oversold areas and suggest scope for stronger bounce to retrace losses from the 34.84, January high. Nearby see resistance at 33.92/34.00 area and above here will open up room for retest of the 34.25 high. Corrective bounce are expected to give way to fresh selling pressure later. Break of the 33.65/50 support will expose the 33.37 low to retest and see room to the 33.30, 61.8% Fibonacci level. Lower still, will open up scope to the 33.08 support then the 33.00 level.