Published: 2025-07-30T02:22:55.000Z
Chart USD/SGD Update: Consolidating test of 1.2900
Technical Analyst
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Settling back from test of the 1.2900 level to consolidate gains from the 1.2745 low of last week
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3025 | * | 38.2% Apr/Jul fall | S1 | 1.2800 | * | congestion |
| R3 | 1.3000/10 | ** | congestion, Apr low | S2 | 1.2745 | * | 24 Jul low |
| R2 | 1.2940 | ** | Jun high | S3 | 1.2700 | ** | 1 Jul YTD low |
| R1 | 1.2900 | * | congestion | S4 | 1.2650 | * | congestion |
Asterisk denotes strength of level
02:20 GMT - Settling back from test of the 1.2900 level to consolidate gains from the 1.2745 low of last week. Consolidation see prices unwinding overbought intraday studies but this is expected to give way to fresh buying interest later to extend gains from the 1.2700 low. Higher will further correct the January/July losses and see room to retest the June high at 1.2940 then the 1.3000 figure. Meanwhile, support is raised to the 1.2800 level which should underpin and sustain bounce from the 1.2745 low.