Published: 2025-08-20T02:46:20.000Z
Chart USD/THB Update: Extending corrective gains
Technical Analyst
-
Break of resistance at the 32.50 congestion see prices extending bounce from the 32.23 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 33.20 | * | 38.2% Apr/Jul fall | S1 | 32.50 | * | congestion | |
| R3 | 33.05 | ** | Jun high | S2 | 32.30 | * | Jun low | |
| R2 | 32.88 | ** | 1 Aug high | S3 | 32.23 | ** | 14 Aug low | |
| R1 | 32.75 | * | congestion | S4 | 32.10 | ** | 24 Jul YTD low |
Asterisk denotes strength of level
02:45 GMT - Break of resistance at the 32.50 congestion see prices extending bounce from the 32.23 low of last week. Positive daily and weekly studies suggest room to to retest resistance at the 32.75 and 32.88 highs. Clearance here, if seen, will see room to the 33.00 level and 33.05, June high. However, gains are seen corrective and expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 32.50 congestion and break here will return focus to the downside for retest of 32.30 congestion and 32.23/32.10 lows.