Published: 2025-07-09T02:01:05.000Z
Chart USD/SGD Update: Room to extend corrective gains
Technical Analyst
1
Extending bounce from the 1.2700 low as prices unwind oversold daily studies to pressure the 1.2800 level
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3000/10 | * | congestion, Apr low | S1 | 1.2763 | * | 12 Jun low |
| R3 | 1.2940 | ** | Jun high | S2 | 1.2700 | ** | 1 Jul YTD low |
| R2 | 1.2860 | * | 5 May low | S3 | 1.2676 | * | Oct 2014 low |
| R1 | 1.2800 | * | 26 May low | S4 | 1.2600 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Extending bounce from the 1.2700 low as prices unwind oversold daily studies to pressure the 1.2800 level. Break here will see room for stronger corrective bounce to retrace losses from the 1.3550, April high. Higher will open up room to the 1.2860/1.2900 congestion then the 1.2940, June high. Meanwhile, support remains at the 12 June low at 1.2763 which should underpin. A later break here will expose the 1.2700 low to retest and see scope to further extend losses from the multi-year top pattern at 1.4646, 2020 year high.