Published: 2025-02-28T02:29:48.000Z
Chart USD/SGD Update: Extending bounce from 1.3312 low
Technical Analyst
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Sharply higher through resistance at the 1.3420/1.3460 previous lows to extend gaing from the 1.3312 low
| Level | Comment | Level | Comment | ||||
|---|---|---|---|---|---|---|---|
| R4 | 1.3635 | * | 18 Dec igh | S1 | 1.3420 | * | Jan low |
| R3 | 1.3585/00 | ** | 10 Feb high, congestion | S2 | 1.3375 | * | 17 Feb low |
| R2 | 1.3550 | * | congestion | S3 | 1.3312 | ** | 24 Fev YTD low |
| R1 | 1.3500/12 | ** | congestion, Nov high | S4 | 1.3270 | * | 50% Sep/Jan rally |
Asterisk denotes strength of level
02:25 GMT - Sharply higher through resistance at the 1.3420/1.3460 previous lows to extend gaing from the 1.3312 low. Daily studies have turned up to unwind oversold readings and see room to strong resistance at the 1.3500/12 congestion and November high. Clearance here, if seen, will open up room to the 1.3550/1.3600 area. However, gains are expected to give way to fresh selling pressure later with support raised to the 1.3420/00 area. Would take break here to return focus to the downside for retest of support at the 1.3375/50 area then the 1.3312 low.