Published: 17/04/25 at 02:23 UTC
Chart USD/SGD Update: Consolidating test of 1.3100
Technical Analyst
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Edged up from test of the 1.3100 level as prices consolidate the steep drop from 1.3550 high of last week
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3300/10 | ** | congestion, Feb low | S1 | 1.3100 | * | congestion |
| R3 | 1.3280 | * | Mar low | S2 | 1.3032 | ** | Jan 2023 year low |
| R2 | 1.3250 | * | congestion | S3 | 1.3000 | ** | Aug low, congestion |
| R1 | 1.3200 | * | congestion | S4 | 1.2950 | * | congestion |
Asterisk denotes strength of level
02:20 GMT - Edged up from test of the 1.3100 level as prices consolidate the steep drop from 1.3550 high of last week and unwind the oversold intraday studies. Daily studies are stretched as well and suggest scope for corrective bounce here to resistance at 1.3200/1.3250 congestion area. Gains abve here, if seen, will open up room for stronger bounce to resistance at the 1.3280/1.3310, previous lows. A later break of the 1.3100 level will turn focus to strong support at 1.3032, January 2023 year low, then the 1.3000 figure.