Chart USD/THB Update: Extend choppy above 31.58 low
Extending choppy trade above 31.58 low as prices consolidate losses from the 32.88, August high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 32.45 | 3 Sep high | S1 | 31.58 | ** | 9 Sep YTD low | ||
| R3 | 32.24 | * | Aug low | S2 | 31.50 | * | congestion | |
| R2 | 32.10/14 | ** | Jul, 2024 year lows | S3 | 31.20 | * | congestion | |
| R1 | 32.00 | * | congestion | S4 | 31.05 | * | Jun 2021 low |
Asterisk denotes strength of level
02:25 GMT - Extending choppy trade above 31.58 low as prices consolidate losses from the 32.88, August high. Daily studies have turned mixed and suggest prices extending ranging action above the 31.58 low. Meanwhile, resistance is at the 32.00 level and see break here needed to see stronger recovery to resistance at the 32.10/32.14, the July and 2024 year lows. This area is expected to cap and sustain losses from the 35.00, April current year high. Consolidation expected to give way to selling pressure later, below the 31.60/58 lows will see room to 31.50 congestion then support at 31.20/31.05, congestion and June 2021 low.