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18 Jul 2013
USD/SGD battling with 1.2650 asks line
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at fresh session highs 1.2643, slightly in the positive for the week, but still capped below strong ask line at 1.2650.
USD/SGD poised to break above 1.2650
According to IFR Markets analyst Catherine Tan, the USD/SGD is “poised to break 1.2650,” and has been seen spiking “on leveraged, US names bids, weak MYR, high USD/CNY fix.” The pair has been ranging around the 1.2575 lows area and 1.2680 highs since last Thursday when USD took the deep dive following FED minutes.
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at current levels as overnight highs 1.2650, followed by Friday's highs at 1.2670, and Monday's weekly highs at 1.2685. To the downside, closest support lies at Monday's lows 1.2609, followed by Friday's/overnight lows at 1.2577, and Tuesday's fresh 3-week lows at 1.2565.
USD/SGD poised to break above 1.2650
According to IFR Markets analyst Catherine Tan, the USD/SGD is “poised to break 1.2650,” and has been seen spiking “on leveraged, US names bids, weak MYR, high USD/CNY fix.” The pair has been ranging around the 1.2575 lows area and 1.2680 highs since last Thursday when USD took the deep dive following FED minutes.
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at current levels as overnight highs 1.2650, followed by Friday's highs at 1.2670, and Monday's weekly highs at 1.2685. To the downside, closest support lies at Monday's lows 1.2609, followed by Friday's/overnight lows at 1.2577, and Tuesday's fresh 3-week lows at 1.2565.