Published: 2025-06-03T03:00:38.000Z
Chart USD/THB Update: Range-bound in consolidation
Technical Analyst
1
Range-bound in consolidation above 32.50 congestion as prices unwind the oversold daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion, 38.2% | S1 | 32.50 | * | congestion | |
| R3 | 33.25 | * | congestion | S2 | 32.37 | ** | 26 May YTD low | |
| R2 | 33.00/05 | * | congestion, Apr low | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 32.80/90 | * | congestion, 29 May high | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:00 GMT - Range-bound in consolidation above 32.50 congestion as prices unwind the oversold daily studies. Would take break above resistance at 32.80/90 area to fade the downside pressure and clear the way for stronger corrective gains to retrace losses from April high towards 33.00/25 congestion. Higher still, will open up room to strong resistance at 33.50, congestion and 38.2% Fibonacci level. Meanwhile, support at 32.50 congestion and 32.37 lows underpin. Below this will extend losses from the November/April highs and see room to the critical 32.14/32.08, 2024/2022 year lows.