Published: 2025-05-26T02:37:39.000Z
Chart USD/SGD Update: Focus on 1.2790, 2024 year low
Technical Analyst
1
Extending the break to fresh year low last Friday and see the September 2024 multi-year low at 1.2790 now within reach
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3000/10 | ** | congestion, Apr low | S1 | 1.2790 | ** | Sep 2024 multi-year low |
| R3 | 1.2950 | * | congestion | S2 | 1.2700 | * | congestion from Oct 2014 |
| R2 | 1.2900 | * | congestion | S3 | 1.2676 | * | Oct 2014 low |
| R1 | 1.2861 | * | 5 May low | S4 | 1.2600/90 | * | congestion, 16 Sep 2014 low |
Asterisk denotes strength of level
02:30 GMT - Extending the break to fresh year low last Friday and see the September 2024 multi-year low at 1.2790 now within reach. Deep oversold readings on daily and weekly studies suggest reaction here likely on test. Break here, if seen, will open up room for extension of the underlying bear trend 2020 year low and see room to 1.2700 congestion from October 2014. Meanwhile, resistance is lowered to the 1.2861, 5th May low. Gains above here, ill open up room for stronger bounce to the 1.2900/1.2950 congestion area.