12 Jul 2013
USD/SGD stalls at 1.26 post Singaporean GDP
FXstreet.com (Barcelona) - The USD/SGD is trading around the 1.26 vicinity, after a violent 2-day retreat off a 1-year high t 1.2850 found buyers emerge ahead of 1.2575.
Singapore GDP way above estimates
Singapore published a much stronger-than-expected advance Q2 GDP at +3.7%, against medium forecast of +2.0% and last Q1 of +0.2%. Despite the growth reading, the USD/SGD has found it hard to extend its recent 4-day losses.
USD/SGD faced with key 50.00 Fibo
Next support for the USD/SGD may be taken at the 50% Fibo retrcement fro the June 7-July 8 rally at 1.2565 ahead of 1.2520 - mid May swing high - and followed by 1.25 round number. On the upside, 1.2620/30 is the immediate resistance, followed by 1.2660 - intraday level - and ahead of more ambitious target at 1.27 - sequence of lows through June 3,4 -.
Singapore GDP way above estimates
Singapore published a much stronger-than-expected advance Q2 GDP at +3.7%, against medium forecast of +2.0% and last Q1 of +0.2%. Despite the growth reading, the USD/SGD has found it hard to extend its recent 4-day losses.
USD/SGD faced with key 50.00 Fibo
Next support for the USD/SGD may be taken at the 50% Fibo retrcement fro the June 7-July 8 rally at 1.2565 ahead of 1.2520 - mid May swing high - and followed by 1.25 round number. On the upside, 1.2620/30 is the immediate resistance, followed by 1.2660 - intraday level - and ahead of more ambitious target at 1.27 - sequence of lows through June 3,4 -.