Published: 2025-03-19T02:36:42.000Z
Chart USD/THB Update: Weighing on the 33.55/50 support
Technical Analyst
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Extending pullback from test just below the 34.00 level to pressure the 33.55/33.50 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.32 | ** | 3 Mar high | S1 | 33.50 | * | 5 Feb low | |
| R3 | 34.25 | * | 12 Feb high | S2 | 33.37 | ** | 24 Feb YTD low | |
| R2 | 34.00 | ** | congestion | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 33.80 | * | congestion | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
02:30 GMT - Extending pullback from test just below the 34.00 level to pressure the 33.55/33.50 support. Below this will expose the 33.37 February YTD low to retest. Break of the latter will extend the broader losses from November high at 35.17 to retrace gains from the September low and see scope to the 33.30, 61.8% Fibonacci level. Lower still, will turn focus to the 33.08, 18 October low. Meanwhile, resistance is at the 33.80 congestion which is expected to cap and sustain losses from the 34.00 congestion.