THB looking a bit range-bound, but with a downside risk

Been watching $THB a bit closer this week, particularly with the recent movement. It's currently sitting around 34.66, after seeing a bit of a bounce from the lower end of what I'm starting to see as a potential consolidation zone. The intra-day high of 35.01 was interesting, suggesting some overhead supply stepping in fairly quickly.

My take right now is that we're likely to see it chop around the 34.50-35.00 range for a bit longer. There’s decent support around the 34.50 mark, and frankly, a clear break above 35.00 seems to be met with selling pressure. The risk to this range-bound idea, for me, would be a sustained break below 34.50. If that level doesn't hold, then the path of least resistance could shift pretty quickly towards a deeper retracement. Not seeing anything particularly strong to suggest that yet, but it's the scenario I'm keeping an eye on to invalidate the current consolidation thesis. Just my two cents, obviously.