Published: 2024-12-11T02:21:53.000Z
Chart USD/SGD Update: Extend choppy trade above 1.3362 support
Technical Analyst
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Little change, as prices extend consolidation above the neckline support at 1.3362
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3362 | ** | 6 Nov high | |
| R3 | 1.3500/12 | ** | congestion, Nov high | S2 | 1.3300 | * | congestion | |
| R2 | 1.3488 | * | 14 Nov high | S3 | 1.3264 | * | Oct high | |
| R1 | 1.3444 | 5 Dec high | S4 | 1.3235 | * | 38.2% Sep/Nov rally |
Asterisk denotes strength of level
02:15 GMT - Little change, as prices extend consolidation above the neckline support at 1.3362. However, choppy trade see prices tracing out a top pattern at the 1.3512 high and see risk for eventual break to trigger deeper pullback to retrace the September/November rally. Lower will see room to the 1.3300 congestion then the 1.3264/1.3235, support and 38.2% Fibonacci retracement. Meanwhile, resistance at the 1.3444/1.3488 area expected to cap and only clearance here will expose the 1.3512 high to retest. Break here will room to 1.3550 congestion and the 1.3600 level.