23 Aug 2013
USD/SGD easing below 1.2800, off 1-year highs
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading near session lows at 1.2796, off yesterday's double high at 1.2862 with the one printed in early July, still up +0.77% for the week so far.
USD/SGD still biased higher while above 1.2770
“USD/SGD could pull back slightly from the top of the Bollinger uptrend channel due to profit-taking, as risk appetite returns on the back of U.S. stocks recovering overnight and Japan's Nikkei rallying 2.5% this morning,” said Ewen Chen at DowJones, adding: “That said, USD/SGD is still biased higher as long as the pair stays above 1.2771--the base of the Bollinger uptrend channel.”
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at current levels as Tuesday's highs 1.2800, followed by August 15 highs at 1.2759, and Wednesday's lows at 1.2728. To the upside, closest resistance lies at recent session highs 1.2838, followed by yesterday's fresh 7-week highs at 1.2862, and June 08 2012 highs at 1.2887.
USD/SGD still biased higher while above 1.2770
“USD/SGD could pull back slightly from the top of the Bollinger uptrend channel due to profit-taking, as risk appetite returns on the back of U.S. stocks recovering overnight and Japan's Nikkei rallying 2.5% this morning,” said Ewen Chen at DowJones, adding: “That said, USD/SGD is still biased higher as long as the pair stays above 1.2771--the base of the Bollinger uptrend channel.”
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at current levels as Tuesday's highs 1.2800, followed by August 15 highs at 1.2759, and Wednesday's lows at 1.2728. To the upside, closest resistance lies at recent session highs 1.2838, followed by yesterday's fresh 7-week highs at 1.2862, and June 08 2012 highs at 1.2887.