SGD Index Daily Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Singapore Dollar Index is currently in a consolidation phase following a sharp bearish impulsive move in early February. The price is hovering above key support at 435.30, with immediate resistance near 445.30. A decisive break below 435.30 could trigger a deeper move toward the long-term support at 420.20, while a move above 445.30 would suggest a potential recovery and possibly a re-test of the 455.00 to 460.00 range.



MACD indicates that although the trend remains technically bearish, momentum is decelerating, as shown by the shortening of the bearish histogram bars. The MACD line remains below the signal line, confirming a macro bearish environment, but the narrowing gap between the two suggests potential stabilization. The key resistance levels at 445.30 and 466.00 indicate where the price would need to breach to confirm any bullish momentum. A break above 445.30 would suggest the formation of a higher low, possibly paving the way for a recovery, while failure to hold the support at 435.30 would likely lead to a continuation of the downtrend toward 420.20.

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