Published: 2024-11-06T02:24:33.000Z
Chart USD/SGD Update: Rebound return focus to 1.3240/1.3264 highs
Technical Analyst
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Sharp bounce from the 1.3132 threatens reversal of losses from the 1.3264 high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3335 | * | 61.8% Apr/Sep fall | S1 | 1.3132 | intraday low | ||
| R3 | 1.3290/00 | ** | 7 Aug high, congestion | S2 | 1.3100 | ** | Sep high | |
| R2 | 1.3264 | * | 1 Nov high | S3 | 1.3050 | * | congestion | |
| R1 | 1.3240 | * | 23 Oct high | S4 | 1.3000 | ** | figure, Aug low |
Asterisk denotes strength of level
02:15 GMT - Sharp bounce from the 1.3132 threatens reversal of losses from the 1.3264 high of last week. However, the daily studies remains mixed and suggest resistance at the 1.3240/1.3264 area capping. Break here, if seen, will open up further extension to the 1.3300 congestion and the 1.3335, 61.8% Fibonacci retracement. Meanwhile, support at the 1.3158/1.3132 lows now protecting the downside. Would take break here to trigger deeper pullback to further retrace the September/October rally to the 1.3100 level and the 1.3050 congestion.