Published: 2025-05-08T02:50:30.000Z
Chart USD/THB Update: Consolidating test of 32.56, 2023 year low
Technical Analyst
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Turned up in range from test of the 32.56, 2023 year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion | S1 | 32.56/50 | * | 2023 year low, congestion | |
| R3 | 33.40 | * | congestion | S2 | 32.14 | ** | Sep 2024 year low | |
| R2 | 33.25 | * | 29 Apr low | S3 | 32.08 | ** | Feb 2022 year low | |
| R1 | 33.00/05 | * | congestion, 21 Apr low | S4 | 32.00 | * | congestion |
Asterisk denotes strength of level
02:45 GMT - Turned up in range from test of the 32.56, 2023 year low, as prices consolidate losses from the high of last week. Bounce see prices unwinding oversold intraday studies but the negative daily and weekly studies keeps focus on the downside. Below the 32.56 low will see room to 32.50 congestion then the strong support at the 32.14/32.08, 2024 and 2022 year lows. Meanwhile, resistance remains at the 33.00/33.05 congestion area and the previous low at 33.25. Clearance here needed to ease the downside pressure and open up room for stronger corrective bounce.