Published: 2025-03-21T02:13:33.000Z
Chart USD/SGD Update: Higher in consolidation from 1.3300 support
Technical Analyst
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Consolidation above the 1.3300 level has given way to bounce to retest the 1.3375 resistance
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3500/20 | ** | congestion, 28 Feb high | S1 | 1.3300 | * | congestion |
| R3 | 1.3460 | * | 5 Feb low | S2 | 1.3270/65 | ** | 50% Sep/Jan rally, Oct high |
| R2 | 1.3420 | ** | Jan low | S3 | 1.3200 | * | congestion |
| R1 | 1.3375 | * | 17 Feb lows | S4 | 1.3155 | * | 61.8% Sep/Jan rally |
Asterisk denotes strength of level
02:10 GMT - Consolidation above the 1.3300 level has given way to bounce to retest the 1.3375 resistance as prices unwind the oversold intraday and daily studies. Break here will open up room for bounce to the strong resistance at the 1.3420/1.3460, January and 5 February lows. This area expected to cap and lower high sought to further pressure the downside later. Below the 1.3300 congestion will extend the January losses and see room to support at 1.3270/65, 50% Fibonacci level and October high. Lower still, will target the 1.3200 congestion and 1.3155, 61.8% Fibonacci level.