Published: 2025-06-19T03:03:25.000Z
Chart USD/THB Update: Extending corrective gains
Technical Analyst
1
Extending gains from the 32.31 low of last week as prices unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.25 | * | congestion | S1 | 32.50 | * | congestion | |
| R3 | 33.00/05 | ** | congestion, Apr low | S2 | 32.31 | ** | 13 Jun YTD low | |
| R2 | 32.90 | * | 29 May high | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 32.80 | * | congestion | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
02:50 GMT - Extending gains from the 32.31 low of last week as prices unwind oversold intraday and daily studies to reach the 32.80 resistance. Clearance here will see room for stronger corrective bounce to resistance at the 32.90 then then 33.00/05 congestion and April low. The latter is expected to cap and corrective gains seen giving way to renewed selling pressure. Meanwhile, support is at the 32.50 congestion. Below this will expose the 32.37/32.31 lows to retest and where break will extend the broader losses from the 35.17, November high.