Published: 2025-07-29T02:14:40.000Z
Chart USD/SGD Update: Consolidating test of 1.2860/82 resistance, scope for break later
Technical Analyst
-
Further extending bounce from the 1.2745 low to retest the 1.2860/1.2882 resistance
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3025 | * | 38.2% Apr/Jul fall | S1 | 1.2800 | * | congestion |
| R3 | 1.3000/10 | ** | congestion, Apr low | S2 | 1.2745 | * | 24 Jul low |
| R2 | 1.2940 | ** | Jun high | S3 | 1.2700 | ** | 1 Jul YTD low |
| R1 | 1.2882 | * | 17 Jul high | S4 | 1.2650 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Further extending bounce from the 1.2745 low to retest the 1.2860/1.2882 resistance. Consolidation here see prices unwinding overbought intraday studies but this is expected to give way to fresh buying interest later. Daily and weekly studies are tracking higher from oversold areas and clearance will further correct the January/July losses and see room to 1.2900 level and 1.2940 June high. Meanwhile, support is raised to the 1.2800 level which should underpin and sustain bounce from the 1.2745 low.