$THB volatility compression and potential breakout

Watching $THB closely today. The daily range has compressed significantly, trading within 34.66 and 35.01 for much of the session, much tighter than recent weeks. This kind of price action often precedes a larger move, and I'm looking at potential breakout scenarios. My thesis would be invalidated if we close above 35.20 or below 34.50, suggesting a continuation of the current range or a fakeout. Could be an interesting setup for strangles or iron condors if implied volatility picks up on a break.