Chart USD/SGD Update: Back to pressure 1.2800/25 resistance
Higher in consolidation from the 1.2770 Friday's low as prices unwind oversold intraday studies and see pressure returning to the 1.2800/25 area
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2900 | * | congestion | S1 | 1.2762/50 | ** | 22 Oct low, congestion |
| R3 | 1.2875 | ** | 14 Jul low | S2 | 1.2700 | * | congestion, 2025 yr low |
| R2 | 1.2850 | * | congestion | S3 | 1.2680 | * | Aug low |
| R1 | 1.2800/25 | * | congestion | S4 | 1.2650 | * | congestion |
Asterisk denotes strength of level
02:20 GMT - Higher in consolidation from the 1.2770 Friday's low as prices unwind oversold intraday studies and see pressure returning to the 1.2800/25 congestion which is expected to cap. Break here, if seen, will open up room for retest of resistance at the 1.2850 congestion and 1.2875 high of 14 July. Meanwhile, support is raised to the 1.2770 Friday's low which extend to the 1.2762/50 congestion area. Would take break here to confirm a top at the 1.2872 October high and open up room for deeper pullback to retrace strong gains from the 1.2630 Spetember low to the 1.2700/1.2680 congestion and August low.