Published: 2025-05-15T02:21:02.000Z
Chart USD/SGD Update: Lower in consolidation from 1.3080, Fibonacci level
Technical Analyst
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Settled back from test of 1.3080 Fibonacci level as prices unwind the overbought intraday studies
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3200 | * | congestion | S1 | 1.2947 | * | 14 May low |
| R3 | 1.3170 | ** | 23 Apr high, 50% | S2 | 1.2900 | * | congestion |
| R2 | 1.3100/30 | * | congestion, 1 May high | S3 | 1.2861 | ** | 5 May YTD low |
| R1 | 1.3080 | * | 38.2% Apr/May losses | S4 | 1.2790 | ** | Sep 2024 multi-year low |
Asterisk denotes strength of level
02:15 GMT - Settled back from test of 1.3080 Fibonacci level as prices unwind the overbought intraday studies. Pullback see prices consolidating around the 1.3000 level but retest of the 1.3080 resistance cannot be ruled out. Clearance will see room to the 1.3100/30 resistance then the 1.3170, 23rd April high and 50% Fibonacci level. Meanwhile, break of the 1.3000 level see support lowered to 1.2947 low which now underpin. Would take break here to expose the 1.2861 low to retest and see room for extension to 1.2790, September 2024 year low.