Published: 2025-05-08T02:05:24.000Z
Chart USD/SGD Update: Range-bound in consolidation
Technical Analyst
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Higher in range from the 1.2861 low as prices consolidate sharp losses from the 1.3550, April high
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3170 | ** | 23 Apr high | S1 | 1.2861 | ** | 5 May YTD low |
| R3 | 1.3100/30 | * | congestion, 1 May high | S2 | 1.2790 | ** | Sep 2024 multi-year low |
| R2 | 1.3050 | * | congestion | S3 | 1.2705 | * | 29 Oct 2014 low |
| R1 | 1.3000/10 | ** | congestion, Apr low | S4 | 1.2676 | * | 9 Oct 2014 low |
Asterisk denotes strength of level
02:00 GMT - Higher in range from the 1.2861 low as prices consolidate sharp losses from the 1.3550, April high. Prices are unwinding the oversold intraday studies but further losses cannot be ruled out to target the 1.2790, September 2024 multi-year low. Would expect reaction on retest of the latter as the daily and weekly studies are oversold and caution corrective bounce. Meanwhile, resistance is at the 1.3000/10 congestion and April low and lift over this will see room for stronger gains to the 1.3050 congestion and 1.3100/30 resistance.