Published: 2026-02-04T02:40:31.000Z
Chart USD/THB Update: Pressuring 31.58/31.70 resistance
1
Consolidating test of strong resistance at the 31.58/31.70 area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 32.23 | ** | Oct low | S1 | 31.16 | * | 6 Jan low | |
| R3 | 32.00/10 | * | congestion, Jul low | S2 | 31.00 | * | Dec low | |
| R2 | 31.85 | * | 50% Oct/Jan fall | S3 | 30.86 | ** | 28 Jan YTD low | |
| R1 | 31.58/70 | ** | Sep low, 18 Dec high | S4 | 30.80 | * | Jun 2020 low |
Asterisk denotes strength of level
02:35 GMT - Consolidating test of strong resistance at the 31.58/31.70 area. Daily and weekly studies are tracking higher and suggest scope for break here to open up room for stronger gains to retrace the October/January losses. Higher will see room to 31.85 and 32.00/10 congestion area. Corrective gains are expected to give way to fresh selling pressure later. Meanwhile, support is raised to 31.20/31.16 area which should now underpin. Would take break here to return focus to the downside for retest of the 31.00 and 30.86 lows.