Published: 2024-11-07T02:41:34.000Z
Chart USD/SGD Update: Consolidating sharp mid-week gains, room for higher later
Technical Analyst
-
Settled back from the 1.3362 high as prices unwind the overbought daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3465 | * | 22 Jul high | S1 | 1.3300 | * | congestion | |
| R3 | 1.3420 | ** | May low | S2 | 1.3264 | ** | 1 Nov high | |
| R2 | 1.3400 | * | congestion | S3 | 1.3200 | * | congestion | |
| R1 | 1.3362 | * | 6 Nov high | S4 | 1.3132 | ** | 6 Nov low |
Asterisk denotes strength of level
02:35 GMT - Settled back from the 1.3362 high as prices unwind the overbought daily studies following sharp bounce from the 1.3132 low. However, the bullish outside range suggest scope for higher to further extend broader gains from the September low. Higher will see scope to the strong resistance at the 1.3400/20 congestion and May low. Meanwhile, support is raised to the 1.3300 level and this extend to the 1.3264, 1st November high. This area now underpin and break here needed to ease the upside pressure and see deeper pullback to the 1.3200 support.