Published: 2026-01-29T03:04:04.000Z
Chart USD/THB Update: Scope for bounce
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Still weak but bearish momentum slows and suggest scope for corrective bounce to unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 31.80 | congestion | S1 | 30.86 | * | 28 Jan YTD low | ||
| R3 | 31.58/70 | ** | Sep low, 29 Dec high | S2 | 30.80 | * | Jun 2020 low | |
| R2 | 31.40 | * | congestion | S3 | 30.60 | * | congestion | |
| R1 | 31.16 | * | 6 Jan low | S4 | 30.53/50 | ** | Feb 2021 high, congestion |
Asterisk denotes strength of level
03:00 GMT - Still weak but bearish momentum slows and suggest scope for corrective bounce to unwind oversold intraday and daily studies. Also divergence on daily chart highlight scope for bounce from the wedge pattern. Resistance is raised to 31.16 and break here will open up room for stronger gains to 31.40 then the strong resistance at the 31.58/31.70 congestion. Meanwhile, support at the 31.00/30.86 lows should now underpin. A later break here will extend losses from the 2022 year high and see continuation to support at the 30.80/30.60 congestion area.