Published: 2024-12-19T03:01:12.000Z
Chart USD/SGD Update: Extending gains, room to retest 1.3670 April YTD high
Technical Analyst
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Break of the 1.3500/12 highs has seen gains above the 1.3600 level to reach 1.3635 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3765 | ** | 3 Oct 2023 year high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3500 | ** | congestion | |
| R2 | 1.3670 | ** | 16 Apr YTD high | S3 | 1.3452 | * | congestion | |
| R1 | 1.3635 | * | 18 Dec high | S4 | 1.3400 | * | congestion |
Asterisk denotes strength of level
02:50 GMT - Break of the 1.3500/12 highs has seen gains above the 1.3600 level to reach 1.3635 high. Consolidation here expected to give way to break later to open up the 1.3670 April YTD high to retest. Reaction at the latter likely though bullish run-up from the September low suggest scope for break to see room to the 1.6700 level then the 1.3765, 2023 year high. Meanwhile, support is raised to the 1.3550 congestion and this extend to the 1.3500 congestion. This area now expected to underpin and only break here will ease the upside pressure and see room for deeper pullback to support at the 1.3400/1.3362 area.