Published: 2025-07-29T02:55:56.000Z
Chart USD/THB Update: Extending bounce from 32.10 low
Technical Analyst
1
Consolidating test of the 32.50 congestion and wedge pattern resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.37 | * | Feb low | S1 | 32.30 | * | Jun low | |
| R3 | 33.05 | ** | Jun high | S2 | 32.10 | ** | 24 Jul YTD low | |
| R2 | 32.75/80 | ** | 9 Jul high, congestion | S3 | 32.08 | ** | Feb 2022 year low | |
| R1 | 32.50 | * | congestion | S4 | 31.80 | * | 76.4% 2020/2022 rally |
Asterisk denotes strength of level
02:50 GMT - Consolidating test of the 32.50 congestion and wedge pattern resistance from the May high as prices unwind overbought intraday studies. However, daily and weekly studies have turned up from oversold areas and suggest scope for break here to trigger stronger gains to retrace the November/July losses to srong resistance at 32.75/80 area and 33.05, June high. Meanwhile, support is raised to 32.30 which should underpin and sustain bounce from 32.10 low.