Published: 2025-05-30T03:13:48.000Z
Chart USD/THB Update: Leaning lower from 32.90 bounce high
Technical Analyst
-
Shallow bounce from 32.37 low see prices back to pressure the downside following rejection from 32.90 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.50 | ** | congestion, 38.2% | S1 | 32.56 | * | 6 May low | |
| R3 | 33.25 | * | congestion | S2 | 32.37 | ** | 26 May YTD low | |
| R2 | 33.00/05 | * | congestion, Apr low | S3 | 32.14 | ** | Sep 2024 year low | |
| R1 | 32.90 | 29 May high | S4 | 32.08 | ** | Feb 2022 year low |
Asterisk denotes strength of level
03:10 GMT - Shallow bounce from 32.37 low see prices back to pressure the downside following rejection from 32.90 high. Break of the 32.56 support will expose the 32.37 low to retest see room to extend losses from the November/April highs and return focus to 32.14/32.08, 2024/2022 year lows. Would take break above 32.90 bounce high to fade the downside pressure and see room for stronger corrective gains to retrace losses from April high towards 33.00/25 congestion. Higher still will open up room to strong resistance at 33.50, congestion and 38.2% Fibonacci level.