Chart USD/THB Update: Consolidating, room for lower
Little change, as break to fresh year low see prices turning up on consolidation above the 32.35 support and unwinding oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion, 38.2% | S1 | 32.35 | * | Oct low | |
| R3 | 33.25 | * | congestion | S2 | 32.14 | ** | Sep 2024 year low | |
| R2 | 33.00/05 | * | congestion, Apr low | S3 | 32.08 | ** | Feb 2022 year low | |
| R1 | 32.65 | 21 May low | S4 | 32.00 | * | figure |
Asterisk denotes strength of level
03:05 GMT - Little change, as break to fresh year low see prices turning up on consolidation above the 32.35 support and unwinding oversold intraday studies. Daily studies are stretched as well but the downside remains vulnerable and further losses cannot be ruled out. Lower will see potential for retest of 32.14, September 2024 year low. Below this will see room to February 2022 year low at 32.08 then the 32.00 congestion. Meanwhile, resistance is lowered to 32.65 recent lows. Gains above here will open up room for stronger bounce to the 33.00/05, congestion and April low.