Back
26 Aug 2013
USD/SGD well offered below 1.2800
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2790 unchanged from previous weekly close Friday, retracing from Thursday's high at 1.2865.
USD/SGD bullish chart still in play
IFRMarkets are still sticking to their bullish view on the pair while above the 1.2770 level. “USD/SGD slips to the bottom of the Bollinger uptrend channel at 1.2776 and then rebounds slightly, keeping the bullish chart signal in play. The pair could consolidate here for a bit, but as long as this key support is intact at the end of the day, further dollar upside looks likely,” IFRMarkets said.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session lows 1.2772, 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 1.2809, followed by Thursday's fresh 7-week highs at 1.2862/5, and June 08 2012 highs at 1.2887.
USD/SGD bullish chart still in play
IFRMarkets are still sticking to their bullish view on the pair while above the 1.2770 level. “USD/SGD slips to the bottom of the Bollinger uptrend channel at 1.2776 and then rebounds slightly, keeping the bullish chart signal in play. The pair could consolidate here for a bit, but as long as this key support is intact at the end of the day, further dollar upside looks likely,” IFRMarkets said.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session lows 1.2772, 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 1.2809, followed by Thursday's fresh 7-week highs at 1.2862/5, and June 08 2012 highs at 1.2887.