Chart USD/THB Update: Within reach of 32.31, current year low
Break of support at the 32.56/32.50 congestion area has seen losses to approach the 32.31 current year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.25 | * | congestion | S1 | 32.31 | ** | 13 Jun YTD low | |
| R3 | 33.05 | ** | Apr low | S2 | 32.14 | ** | Sep 2024 year low | |
| R2 | 32.80 | * | congestion | S3 | 32.08 | ** | Feb 2022 year low | |
| R1 | 32.60 | * | congestion | S4 | 32.00 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Break of support at the 32.56/32.50 congestion area has seen losses to approach the 32.31 current year low. Bounce from the 32.33 low see prices unwinding oversold intraday studies and consolidating losses from the 33.05 resistance. Resistance is at the 32.60 congestion which is expected to cap. Clearance here, if seen, will open up room for stronger bounce to resistance at 32.80. Corrective bounce is expected to give way to fresh selling pressure later and break of 32.31 low will extend the broader losses from the November high and shift focus to the 32.14/32.08, September 2024 and February 2022 year lows.