Published: 2024-12-12T02:58:01.000Z
Chart USD/THB Update: Bounce at 33.65 support, room for lower later
Technical Analyst
-
Little change, as prices consolidate at the 33.65, 50% Fibonacci retracement
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.79 | * | 22 Nov high | S1 | 33.65 | * | 10 Oct high, 50% | |
| R3 | 34.38/50 | ** | 25 Nov low, congestion | S2 | 33.54 | * | Nov low | |
| R2 | 34.20 | * | 29 Nov low | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 34.00 | * | congestion | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
02:50 GMT - Little change, as prices consolidate at the 33.65, 50% Fibonacci retracement and unwind the oversold daily studies. Consolidation here is expected to give way to renewed selling pressure later and lower will see room to 33.54 support. Break here will further extend losses from the November high and see scope to the 33.30, 61.8% Fibonacci level. Meanwhile, resistance is lowered to the 34.00 congestion which is expected to cap and keep pressure on the downside and sustain losses from the 35.17 high. Break will see room for stronger bounce to the 34.20/34.38 area.