Published: 2025-03-17T02:22:06.000Z
Chart USD/SGD Update: Shallow bounce keeps pressure on the downside
Technical Analyst
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Bounce from test of the 1.3300 level has seen gains checked at the 1.3375 resistance
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3500/20 | ** | congestion, 28 Feb high | S1 | 1.3300 | * | congestion |
| R3 | 1.3460 | * | 5 Feb low | S2 | 1.3270/65 | ** | 50% Sep/Jan rally, Oct high |
| R2 | 1.3420 | ** | Jan low | S3 | 1.3200 | * | congestion |
| R1 | 1.3375 | * | 17 Feb lows | S4 | 1.3155 | * | 61.8% Sep/Jan rally |
Asterisk denotes strength of level
02:20 GMT - Bounce from test of the 1.3300 level has seen gains checked at the 1.3375 resistance. Prices are unwinding the oversold daily studies and suggest room for stronger bounce. Higher will open up room to the 1.3400/20 area with corrective bounce expected to give way to fresh selling pressure later. Meanwhile, break of the 1.3300 level will extend the losses from January high and see room to support at 1.3270/65, 50% Fibonacci level and October high. Lower still, will see extension to the 1.3200 congestion and 1.3155, 61.8% Fibonacci level.