Published: 2025-11-06T02:36:38.000Z
Chart USD/SGD Update: Settling back in consolidation
-
Test of the 1.3085 resistance has given way to consolidation as prices unwind overbought intraday studies
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3170 | * | 23 Apr high | S1 | 1.3000 | * | Aug high, congestion |
| R3 | 1.3130 | * | May high | S2 | 1.2950 | * | Sep high |
| R2 | 1.3100 | * | 38.2% Jan/Jul fall | S3 | 1.2930 | * | 29 Oct low |
| R1 | 1.3085 | * | 12 May high | S4 | 1.2917/00 | ** | 17 Oct low, congestion |
Asterisk denotes strength of level
02:30 GMT - Test of the 1.3085 resistance has given way to consolidation as prices unwind overbought intraday studies. Daily studies are stretched as well and caution corrective pullback to support at the 1.3000 level and August high which is expected to underpin. Would take break here to open up room for deeper pullback to support at the 1.2930 and 1.2917 lows. Meanwhile, resistance at the 1.3085/1.3100 area and 38.2% Fibonacci level is expected to cap. Clearance needed to open up room for stronger gains to retrace January/July losses.