Chart USD/SGD Update: Extend consolidation at 1.2800
Still limited above the 1.2800 level as prices extend consolidation here following choppy gains from the 1.2750 support
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2900 | * | congestion | S1 | 1.2750/30 | * | congestion, 15 Sep high |
| R3 | 1.2875 | ** | 14 Jul low | S2 | 1.2700 | * | congestion, Jul 2025 yr low |
| R2 | 1.2850 | * | 61.8% Jun/Sep fall | S3 | 1.2680 | * | Aug low |
| R1 | 1.2825 | * | 8 Oct high | S4 | 1.2650 | ** | May low |
Asterisk denotes strength of level
02:00 GMT - Still limited above the 1.2800 level as prices extend consolidation here following choppy gains from the 1.2750 support. Bullish gains from the September low keep pressure on the upside but the resulting wedge pattern caution pullback to support at the 1.2750/30 area. Break here will fade the upside pressure and confirm a top pattern at the 1.2825 high. Lower will open up room for retest of strong support at the 1.2700/1.2680 area. Lower still, will return focus to 1.2650 and 1.2630, May/September lows. Meanwhile, break above resistance at 1.2825 high will open up room for stronger gains to retrace the June/September losses towards strong resistance at 1.2850/.1.2875 area.