Published: 2024-12-10T02:04:17.000Z
Chart USD/SGD Update: Still supported above 1.3362 neckline
Technical Analyst
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Little change, as prices extend consolidation above the neckline support at 1.3362
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3362 | ** | 6 Nov high | |
| R3 | 1.3500/12 | ** | congestion, Nov high | S2 | 1.3300 | * | congestion | |
| R2 | 1.3488 | * | 14 Nov high | S3 | 1.3264 | * | Oct high | |
| R1 | 1.3444 | 5 Dec high | S4 | 1.3235 | * | 38.2% Sep/Nov rally |
Asterisk denotes strength of level
02:00 GMT - Little change, as prices extend consolidation above the neckline support at 1.3362. Above the 1.3400 level see room to extend choppy trade to retest resistance at the 1.3444/1.3488 area. Beyond this will expose the 1.3512 high to retest. However, the latter expected to cap and lower high sought to further pressure the downside later and see eventual break of the 1.3362 support to confirm a top pattern at the 1.3512 high and see room for deeper pullback to retrace rally from the September low. Lower will see room to the 1.3300 congestion then the 1.3264/1.3235, support and 38.2% Fibonacci retracement.