Chart USD/SGD Update: Higher in consolidation
Edged up in range from the 1.2680 low as prices consolidate recent losses from above the 1.2800 level
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.2836 | ** | May high | S1 | 1.2680 | * | 21 Aug low |
| R3 | 1.2800 | * | congestion | S2 | 1.2650 | ** | May low |
| R2 | 1.2750/67 | * | congestion, 7 Aug low | S3 | 1.2615/05 | * | Feb lows |
| R1 | 1.2727 | 20 Aug high | S4 | 1.2586 | ** | 28 Jan YTD low |
Asterisk denotes strength of level
02:20 GMT - Edged up in range from the 1.2680 low as prices consolidate recent losses from above the 1.2800 level. Daily studies have turned up from oversold areas and suggest scope for corrective bounce with resistance starting at the 1.2727 high of 20 August. Above here will see room for stronger gains to resistance at the 1.2750/67 previous lows. Corrective gains are expected to give way to fresh selling pressure later, below the 1.2680 low will see room to retest the May low at 1.2650. Lower still, will see room for extension to support at 1.2615/05 February low then the 1.2586, January current year low.