Published: 24/04/25 at 03:42 UTC
Chart USD/SGD Update: Consolidating - gains to remain limited
Senior Technical Strategist
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Minor gains have not been sustained
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3300 | * | congestion | S1 | 1.3100 | * | congestion |
| R3 | 1.3280 | * | 7 Mar (m) low | S2 | 1.3015 | ** | 76.4% ret of 2024-2025 rally |
| R2 | 1.3250 | * | congestion | S3 | 1.3000 | ** | Aug low, congestion |
| R1 | 1.3200 | * | congestion | S4 | 1.2950 | * | congestion |
Asterisk denotes strength of level
16:35 BST - Minor gains have not been sustained, as intraday studies turn down, with recent consolidation around 1.3150 giving way to a pullback towards congestion support at 1.3100. A test beneath here is possible. But rising daily readings are expected to limit any break in renewed buying interest/consolidation above strong support at the 1.3015 Fibonacci retracement and 1.3000. Meanwhile, resistance remains at congestion around 1.3200. Negative weekly charts should limit any break in selling interest beneath further congestion around 1.3250.