Published: 04/04/25 at 02:28 UTC
Chart USD/SGD Update: Rejection from 1.3500 return focus to 1.3280, March YTD low
Technical Analyst
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Rejection from the 1.3500 level has seen sharp drop to retrace gains the past two weeks to return focus to 1.3300/1.3280
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3500/02 | ** | congestion, 3 Apr high | S1 | 1.3300 | * | congestion |
| R3 | 1.3460 | * | 5 Feb low | S2 | 1.3280 | ** | 10 Mar YTD low |
| R2 | 1.3420 | * | Jan low | S3 | 1.3270/65 | * | 50%, Oct high |
| R1 | 1.3375 | * | 17 Feb low | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
02:25 GMT - Rejection from the 1.3500 level has seen sharp drop to retrace gains the past two weeks to return focus to the 1.3300/1.3280, ongestion and 10 March YTD low. Consolidation above this see prices unwinding the stretched intraday studies but this is expected to give way to fresh selling pressure later. Break here will extend losses from the January high to further retrace strong rally from the September low. Meanwhile, resistance is lowered to the 1.3375/1.3400 congestion area which is expected to cap and sustain rejection from the 1.3500 level.