Published: 2025-03-05T02:38:24.000Z
Chart USD/SGD Update: Consolidating, but room for lower to retest 1.3312 low
Technical Analyst
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Consolidating test of the 1.3375/50 support as prices unwind oversold intraday studies
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3350 | * | 26 Feb low |
| R3 | 1.3500/20 | ** | congestion, 28 Feb high | S2 | 1.3312 | ** | 24 Feb YTD low |
| R2 | 1.3460 | * | 5 Feb low | S3 | 1.3270 | * | 50% Sep/Jan rally |
| R1 | 1.3420 | * | Jan low | S4 | 1.3250 | * | congestion |
Asterisk denotes strength of level
02:30 GMT - Consolidating test of the 1.3375/50 support as prices unwind oversold intraday studies following sharp drop from the 1.3520 high. However, the negative daily studies suggest this giving way to break later to open up the 1.3312 February YTD low to retest. Below here will see room for deeper pullback to retrace the September/January rally to the 1.3270 Fibonacci level. Meanwhile, resistance is lowered to the 1.3420/1.3460 previous lows, now expected to cap and sustain losses from 1.3520, lower high.