Chart USD/SGD Update: Room to extend gains
Extending rebound from above the 1.3300 support to retest resistance at the 1.3520, late-February high
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3750 | ** | 13 Jan YTD high | S1 | 1.3420 | * | Jan low |
| R3 | 1.3700 | ** | 3 Feb high | S2 | 1.3375 | * | 13 Mar high |
| R2 | 1.3635 | * | 18 Dec high | S3 | 1.3300 | * | congestion |
| R1 | 1.3585/00 | * | 10 Feb high, congestion | S4 | 1.3280 | ** | 10 Mar YTD low |
Asterisk denotes strength of level
02:30 GMT - Extending rebound from above the 1.3300 support to retest resistance at the 1.3520, late-February high. Break here has seen extension to 1.3538 high before settling back in consolidation. Positive daily and weekly studies suggest room for further gains later to retrace the January/March losses. Higher will see room to the 1.3585/1.3600 resistance which is expected to cap. Corrective gains are expected to give way to fresh selling pressure later with support raised to the 1.3420 January low and extending to the 1.3375, 13 March high. Break of these will return focus to the downside for retest of the 1.3300/1.3280, congestion and 10 March YTD low.