22 Jul 2013
USD/SGD showing sings of weakness, holds above 1.26
FXstreet.com (Barcelona) - The USDSGD foreign exchange rate is last trading at 1.2629, off recent session lows at 1.2603, below previous weekly close Friday at around the 1.2663 level.
USD/SGD signs for longs not inspiring yet
According to IFR Markets analysts, “Daily closes below the long term trendline at 1.258 will see us looking to get short. No sign yet of inspiring price action to suggest longs.” Key risk events for this week in view of the analysts are June CPI tomorrow and Industrial production on Friday.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at June 28 lows 1.2614, followed by recent session/weekly lows at 1.2603, and July 12/17 lows at 1.2573/65. To the upside, closest resistance shows at current levels as Friday's lows 1.2633, followed by June 25 lows at 1.2660, and July 12/recent session highs at 1.2670/5.
USD/SGD signs for longs not inspiring yet
According to IFR Markets analysts, “Daily closes below the long term trendline at 1.258 will see us looking to get short. No sign yet of inspiring price action to suggest longs.” Key risk events for this week in view of the analysts are June CPI tomorrow and Industrial production on Friday.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at June 28 lows 1.2614, followed by recent session/weekly lows at 1.2603, and July 12/17 lows at 1.2573/65. To the upside, closest resistance shows at current levels as Friday's lows 1.2633, followed by June 25 lows at 1.2660, and July 12/recent session highs at 1.2670/5.