Published: 2025-07-01T02:42:54.000Z
Chart USD/SGD Update: Consolidating test of 1.2700 level
Technical Analyst
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Consolidating extension to fresh low at the 1.2700 level as prices unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2940 | ** | 23 Jun high | S1 | 1.2700 | * | congestion |
| R3 | 1.2860 | * | 5 May low | S2 | 1.2676 | * | Oct 2014 low |
| R2 | 1.2800 | * | 26 May low | S3 | 1.2600 | * | congestion |
| R1 | 1.2763 | * | 12 Jun low | S4 | 1.2550 | * | congestion, Aug 2014 high |
Asterisk denotes strength of level
02:35 GMT - Consolidating extension to fresh low at the 1.2700 level as prices unwind oversold intraday and daily studies. However, bearish momentum keeps focus firmly on the downside and break will extend losses from the multi-year top pattern at 1.4646, 2020 year high. Lower will further retrace the 2011/2020 gains and see extension to support at 1.2676, low of October 2014. Meanwhile, resistance at 1.2763/1.2800 recent low and congestion area is expected to cap. Would take break here to ease the downside pressure and see room for stronger bounce to resistance at 1.2860/1.2900 congestion.