Chart USD/THB Update: Room to extend losses from 33.00 high
Sharply lower as prices extend rejection from the 33.00 high to reach support at 32.50 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.20 | * | congestion | S1 | 32.50 | * | congestion | |
| R3 | 33.00/05 | ** | congestion, 23 Mar YTD high | S2 | 32.40 | ** | 25 May low, congestion | |
| R2 | 32.90 | * | Oct high | S3 | 32.20 | * | congestion | |
| R1 | 32.80 | * | May high | S4 | 32.03/00 | ** | 6 May low, congestion |
Asterisk denotes strength of level
02:25 GMT - Sharply lower as prices extend rejection from the 33.00 high to reach support at 32.50 congestion. Consolidation here expected to give way to renewed selling pressure later as prices unwind the overbought daily and weekly studies. Below the 32.50 low will open up room for deeper pullback to retrace losses from the 32.03 May low and see room to strong support at the 32.40 congestion. Break here will return focus to the downside to support at the 32.20 congestion and 32.03 low. Meanwhile, resistance is lowered to the 32.80 May high which is expected to cap and sustain losses from the 33.00 high of last week.