Chart USD/SGD Update: Under pressure
Consolidation below the 1.2900 level has given way to renewed selling pressure to retest the 1.2800 level
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2980/00 | * | congestion, Aug high | S1 | 1.2800 | * | congestion |
| R3 | 1.2930 | ** | congestion | S2 | 1.2750 | * | congestion |
| R2 | 1.2900 | * | congestion | S3 | 1.2712/00 | ** | Sep, Jul 2025 year lows |
| R1 | 1.2850 | * | 16 Jan high, congestion | S4 | 1.2675 | * | Oct 2014 low |
Asterisk denotes strength of level
02:40 GMT - Consolidation below the 1.2900 level has given way to renewed selling pressure to retest the 1.2800 level. Daily studies are tracking lower and suggest scope for break here to extend the losses from the November high. Lower will see room to the 1.2750 congestion but focus has turned to the strong support at 1.2712/1.2700, September/July year lows. Meanwhile, resistance is lowered to the 1.2850 congestion which extend to the 1.2900 level which is expected to cap. Would take break here to fade the downside pressure and open up room for stronger gains to retrace losses from the 1.3100 November high.