Published: 2025-07-31T02:48:22.000Z
Chart USD/SGD Update: Extending gains, focus on 1.3000 level
Technical Analyst
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Consolidation at the 1.2900 has given way to break to extend gains from the 1.2700 low
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3085 | * | 12 May high | S1 | 1.2900 | * | congestion |
| R3 | 1.3025 | * | 38.2% Apr/Jul fall | S2 | 1.2882 | ** | 17 Jul high |
| R2 | 1.3000/10 | ** | congestion, Apr low | S3 | 1.2800 | * | May low, congestion |
| R1 | 1.2980 | * | 29 May high | S4 | 1.2745 | ** | 24 Jul low |
Asterisk denotes strength of level
02:40 GMT - Consolidation at the 1.2900 has given way to break to extend gains from the 1.2700 low to reach towards 1.2980 resistance. Above here will see room to the 1.3000/10 congestion and April low where reaction is expected as daily studies pushed into overbought areas. However, a later break cannot be ruled out to extend bullish momentum from the 1.2745 higher low. Clearance will open up room to the 1.3025, 38.2% Fibonacci level, and 1.3085/1.3100 area. Meanwhile, support is raised to the 1.2900/1.2882 area which should underpin and limit corrective pullback.