Published: 2025-06-26T02:17:45.000Z
Chart USD/SGD Update: Reach fresh multi-year low
Technical Analyst
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Consolidation at the 1.2800 level has given way to retest of the 1.2763 current year low to reach fresh marginal year low
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2940 | ** | 23 Jun high | S1 | 1.2763 | ** | 12 Jun YTD low |
| R3 | 1.2900 | * | congestion | S2 | 1.2700 | * | congestion |
| R2 | 1.2860 | * | 5 May low | S3 | 1.2676 | * | Oct 2014 low |
| R1 | 1.2800 | * | 26 May low | S4 | 1.2600 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Consolidation at the 1.2800 level has given way to retest of the 1.2763 current year low to reach fresh marginal year low. Bearish momentum from the 1.2940 bounce high see scope to extend losses from the broad March 2020 multi-year high. Break will see room to the 1.2700/1.2676, congestion and October 2014 low. Deep oversold weekly studies suggest test of this area to give way to further consolidation. Meanwhile, resistance is lowered to the 1.2800/1.2860 May low which should cap and sustain losses from the 1.2940 bounce high.