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DOLLAR-THB TECHS: Bulls Need Close Above Bear Channel Top
*RES 4: Thb33.53 - High July 26
*RES 3: Thb33.41 - High July 27
*RES 2: Thb33.25 - Daily Bear channel top
*RES 1: Thb33.24 - 21-DMA
*PRICE: Thb33.16 @ 2300GMT
*SUP 1: Thb33.11 - 2017 Low Aug 29
*SUP 2: Thb32.98 - Monthly Low May 1 2015
*SUP 3: Thb32.65 - Daily Bear channel base
*SUP 4: Thb32.52 - Low Apr 27 2015
*COMMENTARY: Hesitation ahead of May 2015 monthly lows continues with very
narrow Bollinger bands suggestive of a breakout. Bulls need a close above the
daily bear channel top to confirm a break of the 21-DMA and an easing of bearish
pressure. Bulls then need a close above Thb33.41 to shift focus to layers of
resistance Thb33.53-91 where the longer term bear channel top and 100-DMA are
noted. Bears need a close below Thb33.11 to reconfirm a bearish bias.