Published: 2024-11-11T02:20:36.000Z
Chart USD/SGD Update: Extending consolidation above 1.3200 level
Technical Analyst
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Higher in consolidation above the 1.3200 level but bounce attempt kept in check at the 1.3300 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3420 | * | May low | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3132 | ** | 6 Nov low | |
| R2 | 1.3362 | ** | 6 Nov high | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3040 | * | 11 Oct low |
Asterisk denotes strength of level
02:15 GMT - Higher in consolidation above the 1.3200 level but bounce attempt kept in check at the 1.3300 level. Daily studies are mixed but further gains are not ruled out, break here will expose the 1.3362 high to retest and see room to further retrace the April/September losses. Higher will see scope to strong resistance at the 1.3400/20 area. Meanwhile, support remains at the 1.3200 congestion. Break here will expose the 1.3132 low to retest. Failure here will weaken and return focus to the downside retrace gains from the September low to the 1.3100 level and 1.3040 support.