Published: 2023-12-14T02:44:28.000Z
Chart USD/SGD Update: Under pressure, 1.3284 low within reach
Technical Analyst
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| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3486 | * | 6 Nov low | S1 | 1.3284 | * | 29 Nov low | |
| R3 | 1.3440/50 | * | 22 Nov high, congestion | S2 | 1.3250 | congestion | ||
| R2 | 1.3400 | congestion | S3 | 1.3200 | * | Apr low | ||
| R1 | 1.3350 | 21 Nov low | S4 | 1.3172 | * | Jul low |
Asterisk denotes strength of level
02:40 GMT - Sharply lower following rejection from the 1.3440/50 resistance as prices unwind the overbought intraday studies. Daily studies have turned negative as well and opens up the 1.3300 level and 1.3284 low to retest. Break here will further extend losses from the October YTD high and see scope to 1.3200/1.3172, the April/July lows. Meanwhile, resistance is lowered to the 1.3350/13400 congestion area which is now expected to cap corrective bounce.