9 Aug 2013
USD/SGD posts fresh 2-week lows with Singaporeans on holiday
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2599 bids, off recent session and fresh 2-week lows at 1.2588, printed on the back of broad USD weakness.
USD/SGD lower on USD weakness
On its second day of the long 4-day weekend in Singapore, the USD/SGD has lost a -0.55% mostly on USD weakness, when market participants were expecting tight ranges, as it did on Thursday. According to Chunhan Wong reporting for DowJones, Maybank was tipping support at the 1.2620 area, while OCBC said the most probable outcome was for the pair to range in the 1.26-1.27 band, now staying at the low end of this range.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session/2-week lows at 1.2588, followed by July 12/16 lows at 1.2572/65, and June 19 at 1.2545. To the upside, closest resistance shows at recent session highs/July 29 lows 1.2620, previous support, followed by yesterday's previous weekly lows at 1.2656, and yesterday's highs at 1.2696, the higher end of mentioned forecasted band.
USD/SGD lower on USD weakness
On its second day of the long 4-day weekend in Singapore, the USD/SGD has lost a -0.55% mostly on USD weakness, when market participants were expecting tight ranges, as it did on Thursday. According to Chunhan Wong reporting for DowJones, Maybank was tipping support at the 1.2620 area, while OCBC said the most probable outcome was for the pair to range in the 1.26-1.27 band, now staying at the low end of this range.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session/2-week lows at 1.2588, followed by July 12/16 lows at 1.2572/65, and June 19 at 1.2545. To the upside, closest resistance shows at recent session highs/July 29 lows 1.2620, previous support, followed by yesterday's previous weekly lows at 1.2656, and yesterday's highs at 1.2696, the higher end of mentioned forecasted band.