Published: 2026-05-07T03:51:06.000Z
Chart USD/THB Update: Room to extend rejection from 32.80/32.85 highs
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Consolidation around the 32.50 level has given way to sharp break lower towards the 32.00 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 32.90 | * | Oct high, congestion | S1 | 32.20 | * | congestion | |
| R3 | 32.80/85 | ** | congestion | S2 | 32.00 | * | congestion | |
| R2 | 32.60 | congestion | S3 | 31.90 | * | Feb high | ||
| R1 | 32.50 | * | congestion | S4 | 31.74 | ** | Apr low |
Asterisk denotes strength of level
03:45 GMT - Consolidation around the 32.50 level has given way to sharp break lower towards the 32.00 level ahead of bounce to regain 32.20. Choppy trade is expected to give way to renewed selling pressure later and break of the 32.00 level will open up room for retest of support at 31.90 then the 31.74, April low. Below the latter will see deeper pullback to retrace the January/March rally towards strong support at the 31.70/31.60 area. Meanwhile, resistance is lowered to the 32.50 congestion which is expected to cap and sustain rejection from the 32.80/32.85 highs.