Published: 2025-05-21T02:52:48.000Z
Chart USD/THB Update: Sharply lower, focus return to 32.56 low
Technical Analyst
-
Sharply lower to extend pullback from resistance at 33.50 congestion and 38.2% Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.65 | ** | Dec low | S1 | 32.80 | * | congestion | |
| R3 | 33.50 | ** | congestion, 38.2% | S2 | 32.56 | ** | 2023, 6 May YTD lows | |
| R2 | 33.25 | * | congestion | S3 | 32.35 | 1 Oct low | ||
| R1 | 33.00/05 | * | congestion, Apr low | S4 | 32.14 | ** | Sep 2024 year low |
Asterisk denotes strength of level
02:50 GMT - Sharply lower to extend pullback from resistance at 33.50 congestion and 38.2% Fibonacci level. Negative intraday and daily studies weighs and break of the 33.05/33.00 area opens up room to support at the 32.80 congestion and 32.56, 6th May YTD low to retest. Oversold weekly studies suggest reaction at the latter likely. However, consolidation is expected to give way to selling pressure later and turn focus to the 32.14, 2024 year low. Meanwhile, resistance is lowered to the 33.00/05 congestion and April low which is expected to cap corrective bounce.