Published: 2025-02-19T02:42:45.000Z
Chart USD/SGD Update: Edged up in consolidation
Technical Analyst
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Turned up from test of the 1.3385 Fibonacci level as prices unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3635 | * | 18 Dec high | S1 | 1.3385 | * | 38.2% Sep/Jan rally |
| R3 | 1.3585 | ** | 10 Feb high | S2 | 1.3357 | ** | Dec low, 200-day MA |
| R2 | 1.3500 | * | congestion | S3 | 1.3300 | * | congestion |
| R1 | 1.3460 | * | 5 Feb low | S4 | 1.3270 | * | 50% Sep/Jan rally |
Asterisk denotes strength of level
02:35 GMT - Turned up from test of the 1.3385 Fibonacci level as prices unwind oversold intraday and daily studies. Bounce see resistance at the 1.3420/60 recent lows which is expected to cap. Clearance here, if seen, will open up room for stronger recovery within the bear channel from the January high and open up room to the 1.3500 congestion. Corrective bounce expected to give way to fresh selling pressure later and break of 1.3385 and 1.3357 support will open up deeper pullback to the 1.3300/1.3270, congestion and 50% Fibonacci level.