Published: 2024-11-08T02:27:00.000Z
Chart USD/SGD Update: Sharp pullback from 1.3362 high
Technical Analyst
1
Sharply lower to extend pullback from the 1.3362 high as prices unwind the overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | * | congestion | S1 | 1.3200 | * | congestion | |
| R3 | 1.3362 | ** | 6 Nov high | S2 | 1.3132 | ** | 6 Nov low | |
| R2 | 1.3300 | * | congestion | S3 | 1.3100 | * | congestion | |
| R1 | 1.3264 | * | Oct high | S4 | 1.3040 | * | 11 Oct low |
Asterisk denotes strength of level
02:20 GMT - Sharply lower to extend pullback from the 1.3362 high as prices unwind the overbought intraday studies. Daily studies are mixed but further gains not ruled out with resistance lowered to the 1.3264/1.3300 area. Clearance here will expose the 1.3362 high to retest and see room to further retrace the April/September losses. Meanwhile, support is lowered to the 1.3200 congestion ahead of the 1.3132 low. Would take break here to weaken and turn focus lower to retrace gains from the September low to the 1.3100 level and 1.3040 support.