Published: 2024-11-28T02:25:47.000Z
Chart USD/SGD Update: Room to extend pullback from 1.3512, double top
Technical Analyst
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Consolidation below the 1.3512 highs gave way to deeper pullback through the 1.3418 support to trigger a small double top
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | * | Jun high, congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3550 | * | congestion | S2 | 1.3362 | * | 6 Nov high | |
| R2 | 1.3500/12 | ** | congestion, 22 Nov high | S3 | 1.3300 | * | congestion | |
| R1 | 1.3450 | * | congestion | S4 | 1.3264 | * | Oct high |
Asterisk denotes strength of level
02:15 GMT - Consolidation below the 1.3512 highs gave way to deeper pullback through the 1.3418 support to trigger a small double top to reach support at the 1.3400 level. Consolidation here see prices unwinding the oversold intraday studies with negative daily studies suggesting scope for break lower to see deeper pullback to retrace the September/November rally. Lower will see room to the 1.3362 support then the 1.3300 congestion. Meanwhile, resistance is lowered to the 1.3450 congestion now expected to cap and sustain losses from the 1.3512 highs.