Published: 2024-12-20T02:24:15.000Z
Chart USD/SGD Update: Consolidating, higher will see room to retest 1.3670 April YTD high
Technical Analyst
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Little change, as prices consolidate test of the 1.3635 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3765 | ** | 3 Oct 2023 year high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3500 | ** | congestion | |
| R2 | 1.3670 | ** | 16 Apr YTD high | S3 | 1.3452 | * | congestion | |
| R1 | 1.3635 | * | 18 Dec high | S4 | 1.3400 | * | congestion |
Asterisk denotes strength of level
02:20 GMT - Little change, as prices consolidate test of the 1.3635 high and unwind overbought intraday studies. Consolidation here expected to give way to break later to open up the April YTD high at 1.3670 to retest. Reaction at the latter likely though bullish run-up from the September low suggest potential for break to see room to the 1.6700 level then the 1.3765, 2023 year high. Meanwhile, support is raised to the 1.3550 congestion and this extend to the 1.3500 level. This area now expected to underpin and only break here will ease the upside pressure and see room for deeper pullback to the 1.3400/1.3362 area.