Chart USD/SGD Update: Choppy around 1.2800
Back in consolidation around the 1.2800 level following bounce from the 1.2770, Friday's low
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2900 | * | congestion | S1 | 1.2762/50 | ** | 22 Oct low, congestion |
| R3 | 1.2875 | ** | 14 Jul low | S2 | 1.2700 | * | congestion, 2025 yr low |
| R2 | 1.2850 | * | congestion | S3 | 1.2680 | * | Aug low |
| R1 | 1.2800/25 | * | congestion | S4 | 1.2650 | * | congestion |
Asterisk denotes strength of level
02:25 GMT - Back in consolidation around the 1.2800 level following bounce from the 1.2770, Friday's low. Resistance at the 1.2800/25 area expected to cap with choppy trade giving way to renewed selling pressure later. Break here, if seen, will open up room for retest of resistance at the 1.2850 congestion and 1.2875 high of 14 July. Meanwhile, support remains at the 1.2770 Friday's low and extending to the 1.2762/50 congestion area. Would take break here to confirm a top in place at the 1.2872 October high and open up room for deeper pullback to retrace strong gains from the 1.2630 Spetember low to the 1.2700/1.2680 area.