Published: 2025-03-10T02:23:06.000Z
Chart USD/SGD Update: Consolidating at 1.3300, lower later
Technical Analyst
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No follow-through on break of the 1.3300 level as prices consolidate sharp losses from the 1.3520 high of last week
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3500/20 | ** | congestion, 28 Feb high | S1 | 1.3270/65 | * | 50% Sep/Jan rally, Oct high |
| R3 | 1.3460 | * | 5 Feb low | S2 | 1.3200 | * | congestion |
| R2 | 1.3420 | ** | Jan low | S3 | 1.3155 | * | 61.8% Sep/Jan rally |
| R1 | 1.3350/75 | * | 26, 17 Feb lows | S4 | 1.3132 | * | Nov low |
Asterisk denotes strength of level
02:20 GMT - No follow-through on break of the 1.3300 level as prices consolidate sharp losses from the 1.3520 high of last week. Bearish structure on from the January high keeps pressure on the downside and nearby see room for test of strong support at the 1.3270/65, 50% Fibonacci level and October high. Meanwhile, resistance is lowered to the 1.3350/75 recent low which is expected to cap. Above here, will see room for stronger corrective bounce to unwind the oversold daily studies and see room to resistance at the 1.3400/20 congestion and January low.