Chart USD/SGD Update: Range-bound within 1.2700/50 area
Little change, as prices stays range-bound within the 1.2750/1.2700 area
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2850 | * | congestion | S1 | 1.2700 | congestion | |
| R3 | 1.2836 | ** | May high | S2 | 1.2680 | * | 21 Aug low |
| R2 | 1.2800 | * | congestion | S3 | 1.2650 | ** | May low |
| R1 | 1.2750/67 | * | congestion, 7 Aug low | S4 | 1.2586 | ** | 28 Jan YTD low |
Asterisk denotes strength of level
02:05 GMT - Little change, as prices stays range-bound within the 1.2750/1.2700 area. Daily studies are tracking higher from oversold areas and suggest scope to extend gains from the 1.2680 August low to retest strong resistance at the 1.2750/67 area. Would take break here to open up room for stronger gains to retrace losses from the 1.2990 June current year high to strong resistance at 1.2800/36 congestion and May high. Corrective gains are expected to give way to fresh selling pressure later for retest of the 1.2700 level and 1.2680 August low. Break here will see room for extension to the 1.2650 May low and 1.2586, January current year low.