USD/SGD – 1.22 support holding on

Daily Chart

1.22 managed to hold despite price threatened to break below a few times during the past 2 weeks. However price could be facing resistance around 1.227, which is the support for trading range from 1.227 – 1.234 found in Sep – Early Oct.

30 Minutes

Bullish momentum appears to have stalled with price breaking below the 30 min upward trendline, and the subsequent pullback failing to break above the same trendline just an hour ago. Support levels on the 30 min chart can be spotted around 1.2240 to 1.2230 consolidation range, with a break opening up 1.22 – 1.221 again.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.