Chart USD/SGD Update: Extending gains
Break above the 1.3420 resistance further extending gains from the March low and see room to the 1.3460 resistance
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3586 | * | 10 Feb high | S1 | 1.3375/50 | 13 Mar high, congestion | |
| R3 | 1.3520 | ** | 28 Feb high | S2 | 1.3300 | * | congestion |
| R2 | 1.3500 | * | congestion | S3 | 1.3270/65 | ** | 50% Sep/Jan rally, Oct high |
| R1 | 1.3460 | * | 5 Feb low | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Break above the 1.3420 resistance further extending gains from the March low and see room to the 1.3460 resistance. Gains beyond this, if seen, will open up scope to strong resistance at the 1.3500/20 congestion and 28 February high which is expected to cap. Gains are seen corrective of the January/March losses and expected to give way to fresh selling pressure later. Meanwhile, support is raised to the 1.3375/50 area and below this will return focus to the downside for retest of the 1.3300/1.3280 lows. Below this will see room for extension to 1.3270/65, 50% Fibonacci level and October high.