Published: 2025-03-06T03:06:11.000Z
Chart USD/THB Update: Under pressure, scope to retest 33.50/33.37 lows
Technical Analyst
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Prices remains under pressure following rejection from the 34.32 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 34.32 | ** | 3 Mar high | S1 | 33.50 | * | 5 Feb low | |
| R3 | 34.25 | * | 12 Feb high | S2 | 33.37 | ** | 24 Feb YTD low | |
| R2 | 34.00 | * | congestion | S3 | 33.30 | * | 61.8% Sep/Nov rally | |
| R1 | 33.65 | * | Dec low | S4 | 33.08 | * | 18 Oct low |
Asterisk denotes strength of level
03:00 GMT - Prices remains under pressure following rejection from the 34.32 high. Break of the 33.65 support see room for retest of the 33.50 congestion then the 33.37 February YTD low. Daily studies have turned down from overbought areas and suggest scope for break here to see deeper pullback to retrace September/December rally to the 33.30, 61.8% Fibonacci level. Meanwhile, resistance is lowered to the 33.65/33.80, low of December and congestion area which is expected to cap and sustain losses from the 34.32 high.