Published: 2024-02-27T02:49:22.000Z
Chart USD/THB Update: Limited on pullback, room for lower later
Technical Analyst
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Still limited on probes below the 35.88 support but pressure building on the downside from the 36.20 highs
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 36.50 | congestion | S1 | 35.74 | 22 Feb low | |||
| R3 | 36.34 | * | Nov high | S2 | 35.66 | * | 13 Feb low | |
| R2 | 36.20 | * | 14 Feb high | S3 | 35.50 | * | congestion | |
| R1 | 36.00 | congestion | S4 | 35.44 | * | 7 Feb low |
Asterisk denotes strength of level
02:45 GMT - Still limited on probes below the 35.88 support but pressure building on the downside from the 36.20 high. Negative daily studies seen weighing and suggest consolidation giving way to deeper pullback later. Break of the 35.74 low will see room to the 35.66 support then the 35.60/35.50 area. Meanwhile, resistance remains at the 36.00 level then the 36.20 high. Only break of these will further extend gains from the late-December low and see room to the 36.34/36.40 area and 36.50 level.