Published: 2025-05-22T01:57:08.000Z
Chart USD/SGD Update: Consolidating above 1.2861, current year low
Technical Analyst
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Break of the 1.2950 congestion has seen losses through the 1.2900 level to approach the 1.2861, 5 May YTD low
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3100/30 | * | congestion, 1 May high | S1 | 1.2861 | ** | 5 May YTD low |
| R3 | 1.3085 | ** | 12 May high | S2 | 1.2790 | ** | Sep 2024 multi-year low |
| R2 | 1.3000/10 | * | congestion, Apr low | S3 | 1.2700 | * | congestion from Oct 2014 |
| R1 | 1.2950 | * | congestion | S4 | 1.2676 | * | Oct 2014 low |
Asterisk denotes strength of level
01:50 GMT - Break of the 1.2950 congestion has seen losses through the 1.2900 level to approach the 1.2861, 5 May YTD low. Consolidation here see prices unwinding oversold intraday studies with daily studies stretched as well and caution corrective bounce. However, gains are likely to remain limited with resistance starting at the 1.2950 congestion then the 1.3000/10 area which is expected to cap. A later break of the 1.2861 low will open up room for retest of the September 2024 multi-year low at 1.2790 where reaction can be expected.