Published: 2025-02-28T03:22:49.000Z
Chart USD/THB Update: Extending gains
Technical Analyst
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Break above the 33.50/33.65 resistance see prices extending gains from the 33.37 low through the 34.00 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.84 | ** | 13 Jan YTD high | S1 | 34.00 | * | congestion | |
| R3 | 34.68 | * | Dec high | S2 | 33.65 | * | Dec low | |
| R2 | 34.50 | * | congestion | S3 | 33.50 | * | 5 Feb low | |
| R1 | 34.25 | ** | 12 Feb high | S4 | 33.37 | ** | 24 Feb YTD low |
Asterisk denotes strength of level
03:20 GMT - Break above the 33.50/33.65 resistance see prices extending gains from the 33.37 low through the 34.00 level. Positive daily studies suggest room for stronger bounce to retrace losses from the 34.84, January high. Higher will see room for retest of the 12 February high at 34.25 then the 34.50 congestion. Corrective gains are expected to give way to fresh selling pressure later with support raised to the 34.00 level. Below this will see room for pullback to the 33.65/33.50 area then the 33.37 low.