25 Jul 2013
USD/SGD not bids to break above 1.2700
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last quoted at 1.2672, off recent session and double weekly high at 1.2700 round, still slightly in the positive for the week.
USD/SGD lower on profit taking
According to IFR Markets analyst Catherine Tan the USD/SGD has eased lower on profit taking, on the failure to break above previous resistance zone from late May. Tan adds that the “bullish bias should see the pair supported above 1.2655,” overnight lows. “Break above 1.2710 to pave the way for 1.2748, 61.8% of 1.2860/1.2567.”
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at recent session and weekly highs 1.2700, followed by Friday's highs at 1.2711, and July 03 highs at 1.2754. To the downside, closest support lies at July 17 highs at 1.2649, and yesterday's lows at 1.2620.
USD/SGD lower on profit taking
According to IFR Markets analyst Catherine Tan the USD/SGD has eased lower on profit taking, on the failure to break above previous resistance zone from late May. Tan adds that the “bullish bias should see the pair supported above 1.2655,” overnight lows. “Break above 1.2710 to pave the way for 1.2748, 61.8% of 1.2860/1.2567.”
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at recent session and weekly highs 1.2700, followed by Friday's highs at 1.2711, and July 03 highs at 1.2754. To the downside, closest support lies at July 17 highs at 1.2649, and yesterday's lows at 1.2620.