Published: 2025-03-25T02:52:07.000Z
Chart USD/SGD Update: Extending corrective bounce
Technical Analyst
1
Consolidation above the 1.3300 level has given way to break of the 1.3375 resistance
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3586 | * | 10 Feb high | S1 | 1.3375 | * | 13 Mar high |
| R3 | 1.3500/20 | ** | congestion, 28 Feb high | S2 | 1.3300 | * | congestion |
| R2 | 1.3460 | * | 5 Feb low | S3 | 1.3270/65 | ** | 50% Sep/Jan rally, Oct high |
| R1 | 1.3420 | ** | Jan low | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
02:45 GMT - Consolidation above the 1.3300 level has given way to break of the 1.3375 resistance to extend bounce from the 1.3280 low. Prices are unwinding the oversold intraday and daily studies and break above the 1.3400 level will see room for extension to the strong resistance at the 1.3420/1.3460, January and 5 February lows. This area is expected to cap and lower high sought to further pressure the downside later. Meanwhile, support is raised to the 1.3375 recent high, break here will return focus to the 1.3300/1.3280 lows where break will see room to 1.3270/65, 50% Fibonacci level and October high.