Published: 2025-03-27T02:44:40.000Z
Chart USD/SGD Update: Extending corrective bounce
Technical Analyst
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Break above the 1.3400 level has seen extension to reach the .3420 resistance
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3586 | * | 10 Feb high | S1 | 1.3345 | 24 Mar low | |
| R3 | 1.3500/20 | ** | congestion, 28 Feb high | S2 | 1.3300 | * | congestion |
| R2 | 1.3460 | * | 5 Feb low | S3 | 1.3270/65 | ** | 50% Sep/Jan rally, Oct high |
| R1 | 1.3420 | ** | Jan low | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
02:35 GMT - Break above the 1.3400 level has seen extension to reach the .3420 resistance. Positive daily studies suggest scope for break here to further extend bounce from 1.3300 level to the 1.3460 resistance. Gains beyond this, if seen, will open up scope to strong resistance at the 1.3500/20 congestion and 28 February high. Meanwhile, support is raised to the 13 March high at 1.3375 which now underpin. Would take break here to return focus to the 1.3300/1.3280 lows. Below this will see room for extension to 1.3270/65, 50% Fibonacci level and October high.