22 Aug 2013
USD/SGD double tops at 1.2850 post FOMC
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2840 off recent session lows at 1.2815, retracing from fresh 6-week highs at 1.2862 posted following FOMC meeting minutes.
USD/SGD test of 1.29 in the cards
According to IFRMarkets stops above 1.2830 were triggered on its way to mentioned fresh 6-week highs, with “a test of 1.2900 on the cards today,” IFRMarkets suggested. The pair is up +1.14% for the week so far, with the 200 week SMA right above current price at 1.2873. Current levels are also important support area from back Nov last year turned now into resistance since early June this year.
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at current levels as August 02 highs 1.2772, followed by yesterday's fresh 1-month highs at 1.2801, while to the downside closest support lies at Thursday's highs 1.2757, followed by recent session lows at 1.2730.
USD/SGD test of 1.29 in the cards
According to IFRMarkets stops above 1.2830 were triggered on its way to mentioned fresh 6-week highs, with “a test of 1.2900 on the cards today,” IFRMarkets suggested. The pair is up +1.14% for the week so far, with the 200 week SMA right above current price at 1.2873. Current levels are also important support area from back Nov last year turned now into resistance since early June this year.
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at current levels as August 02 highs 1.2772, followed by yesterday's fresh 1-month highs at 1.2801, while to the downside closest support lies at Thursday's highs 1.2757, followed by recent session lows at 1.2730.