Published: 2024-11-05T02:04:43.000Z
Chart USD/SGD Update: Room for deeper pullback from the 1.3264 high
Technical Analyst
-
Little change, as prices turned up from test of the 1.3178/58 support to consolidate at the 1.3200 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3335 | * | 61.8% Apr/Sep fall | S1 | 1.3178 | * | 25 Oct low | |
| R3 | 1.3290/00 | ** | 7 Aug high, congestion | S2 | 1.3158 | * | Dec low | |
| R2 | 1.3264 | * | 1 Nov high | S3 | 1.3100 | ** | Sep high | |
| R1 | 1.3240 | * | 23 Oct high | S4 | 1.3050 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Little change, as prices turned up from test of the 1.3178/58 support to consolidate at the 1.3200 level. However, the daily studies are tracking lower from overbought areas and suggest scope to further pressure the downside, Would take break to trigger deeper pullback to further retrace the September/October rally to the 1.3100 level and 1.3050 congestion. Meanwhile, resistance at the 1.3240/1.3264 highs now expected to cap. Break here, if seen, will open up further extension to the 1.3300 congestion and 1.3335, Fibonacci retracement.