Published: 2025-03-12T03:02:37.000Z
Chart USD/THB Update: Bounce attempt checked at 34.00 level
Technical Analyst
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Consolidation from the 33.55 low has seen bounce checked at the 34.00 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.50 | * | congestion | S1 | 33.65 | * | Dec low | |
| R3 | 34.32 | ** | 3 Mar high | S2 | 33.50 | * | 5 Feb low | |
| R2 | 34.25 | * | 12 Feb high | S3 | 33.37 | ** | 24 Feb YTD low | |
| R1 | 34.00 | * | congestion | S4 | 33.30 | * | 61.8% Sep/Nov rally |
Asterisk denotes strength of level
02:55 GMT - Consolidation from the 33.55 low has seen bounce checked at the 34.00 level. Rejection there opens up room for retest of the 33.65/33.55 support where break will expose the 33.50/33.37 February lows to retest. Break of these will see deeper pullback to retrace the September/November rally to the 33.30, 61.8% Fibonacci level. Lower still will see room to the 33.08, 18 October low. Meanwhile, resistance at the 34.00 level now expected to cap and sustain losses from the 34.32, February bounce high.