Chart USD/SGD Update: Consolidating above 1.2700 level
Higher in consolidation following bounce from the 1.2670 Friday's low to reach resistance at the 1.2750 congestion
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2900 | * | Jan high | S1 | 1.2700 | ** | 19 Feb high, 2025 yr low |
| R3 | 1.2850 | * | congestion | S2 | 1.2650 | congestion | |
| R2 | 1.2785/00 | ** | 13 Apr high, congestion | S3 | 1.2600 | * | congestion |
| R1 | 1.2750 | congestion | S4 | 1.2586 | ** | 28 Jan YTD low |
Asterisk denotes strength of level
02:35 GMT - Higher in consolidation following bounce from the 1.2670 Friday's low to reach resistance at the 1.2750 congestion. Above here will see room for stronger gains to retrace losses from the 1.2930 March current year high. Higher will see room to strong resistance at the 1.2785/1.2800 area which is expected to cap. Corrective gains are expected to give way to renewed selling pressure later. Break of the 1.2700 level will see room to support at the 1.2650/1.2600 congestion area. Below this will expose the 1.2586 January current year low to retest and extend the broader losses from the 2020 year high.