Chart USD/THB Update: Room to extend bounce from 32.30 low
Consolidation below the 32.65 resistance has given way break to reach 32.75 high as prices extend bounce from 32.30 low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.37/50 | ** | Feb low, congestion | S1 | 32.50 | * | congestion | |
| R3 | 33.25 | * | congestion | S2 | 32.30 | ** | 3 Jul YTD low | |
| R2 | 33.05 | ** | Apr low | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 32.80 | * | congestion | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
02:40 GMT - Consolidation below the 32.65 resistance has given way break to reach 32.75 high as prices extend bounce from 32.30 low. Daily studies are tracking higher and suggest room for stronger bounce to retrace losses from the April high. Clearance will open up scope to the 32.80 congestion. Beyond this, if seen, will open up the 33.05 June high to retest. Meanwhile, support is at the 32.50 congestion which should underpin. Break here will return focus to the downside for retest of the 32.30 low and see room to extend the broader losses from the November high to the 32.14/32.08, September 2024 and February 2022 year lows.