Published: 2025-09-03T02:22:59.000Z
Chart USD/SGD Update: Pressuring 1.2900 range high
0
-
Consolidation above the July trendline has given way to bounce to retest range high at the 1.2900 level
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3025 | * | 38.2% Apr/Jul fall | S1 | 1.2815 | * | 28 Aug low, trendline |
| R3 | 1.3000/10 | ** | congestion, Apr low | S2 | 1.2800/90 | * | May, 2024 year lows |
| R2 | 1.2940 | * | Jun high | S3 | 1.2745 | ** | 24 Jul low |
| R1 | 1.2900 | * | congestion | S4 | 1.2700 | ** | 1 Jul YTD low |
Asterisk denotes strength of level
02:15 GMT - Consolidation above the July trendline has given way to bounce to retest range high at the 1.2900 level. Daily studies have turned up from oversold areas and suggest scope for break here to retrace losses from the August high towards the 1.2940 June high then the 1.3000 level. Clearance here, if seen, will open up room for stronger gains to retrace the April/July losses. Meanwhile, at the 1.2815/1.2800 area is expected to underpin. Would take break here to expose the 1.2745 and 1.2700 lows to retest.