Published: 2025-06-10T02:13:55.000Z
Chart USD/SGD Update: Extending consolidation above 1.2850, scope for bounce
Technical Analyst
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Extending consolidation above 1.2850 congestive support
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3169 | * | 23 Apr high | S1 | 1.2850 | congestion | |
| R3 | 1.3086 | ** | 12 May high | S2 | 1.2800 | ** | 26 May YTD low |
| R2 | 1.3000/10 | ** | congestion, Apr low | S3 | 1.2790 | ** | Sep 2024 multi-year low |
| R1 | 1.2950 | * | congestion | S4 | 1.2700 | * | congestion from Oct 2014 |
Asterisk denotes strength of level
02:10 GMT - Extending consolidation above 1.2850 congestive support as prices unwind oversold intraday studies. Both daily and weekly studies are started as well and suggest scope for bounce to unwind oversold readings. Regaining the 1.2900 level will open up room to resistance at the 1.2950/1.3000 congestion is expected to cap. Would take break here to fade the downside pressure and see room for stronger corrective bounce to retrace losses from the January high. Meanwhile, support at 1.2850 and extending to the 1.2800 level underpin and seen protecting the downside.