Published: 2025-02-21T02:36:36.000Z
Chart USD/SGD Update: Extending losses, room to 1.3300/1.3270
Technical Analyst
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Shallow bounce from the Monday's low at 1.3375 has met with selling pressure at the 1.3420/60 resistance to reach fresh low at 1.3325
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3500/12 | ** | congestion, Nov high | S1 | 1.3300 | * | congestion |
| R3 | 1.3460 | * | 5 Feb low | S2 | 1.3270 | * | 50% Sep/Jan rally |
| R2 | 1.3420 | * | Jan low | S3 | 1.3250 | * | congestion |
| R1 | 1.3375 | * | 17 Feb low | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
02:30 GMT - Shallow bounce from the Monday's low at 1.3375 has met with selling pressure at the 1.3420/60 resistance to reach fresh low at 1.3325. Consolidation here see prices unwinding the oversold intraday studies but this is seen giving way to fresh selling pressure later. Lower will extend the broader losses from the January high and see room to the 1.3300 congestion then the 1.3270, 50% Fibonacci level. Meanwhile, resistance is lowered to the 1.3375/1.3400 low and congestion area which should cap and sustain the bearish pressure.