Published: 2025-05-29T03:11:58.000Z
Chart USD/THB Update: Extending gains
Technical Analyst
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Consolidation below 32.80 resistance has given way to break to extend bounce from 32.37 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.65 | ** | Dec low | S1 | 32.56 | * | 6 May low | |
| R3 | 33.50 | ** | congestion, 38.2% | S2 | 32.37 | ** | 26 May YTD low | |
| R2 | 33.25 | * | congestion | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 33.00/05 | * | congestion, Apr low | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:10 GMT - Consolidation below 32.80 resistance has given way to break to extend bounce from 32.37 low as prices unwind the oversold daily studies. Higher see room for stronger gains to retrace losses from the 33.50 resistance and see room to strong resistance at the 33.00/05 figure and April low, which is expected to cap. Break here, if seen, will open up room for extension to the 33.25/33.50 resistance. Meanwhile, support is raised to the early-May low at 32.56 then the 32.37, Monday's current year low. Below these will see room to 32.14/32.08, 2024/2022 year lows.