24 Jul 2014
USD/SGD hits lowest since late Oct 2013
FXStreet (Bali) - USD/SGD is trading at its lowest since late October 2013, currently at 1.2370, barely changed since the NY close, having posted a daily high at 1.2379 and low at 1.2366.
On Wednesday, Singapore's consumer price index, a measure of inflation, came below market expectations, at 1.8% for the month of June, with a decrease in car prices the main contributor. Despite the downbeat read, SGD found bids vs USDs.
USD/SGD spot is currently in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 44.52, up from it’s last hourly close at 35.21, while ADX is ranging above 30 at 18.96, down from 25.16 at the last hourly close.
Current price is 1.2370, with resistance ahead at 1.2375 (Daily Classic S2), 1.2378-80 (Hourly 20 EMA, Daily High), 1.2383 (Weekly Classic S1) and 1.2388 (Daily Classic S1). Next support to the downside can be found at 1.2368 (Daily Open, Monthly Low and Weekly Low), 1.2363 (Yesterday's Low).
On Wednesday, Singapore's consumer price index, a measure of inflation, came below market expectations, at 1.8% for the month of June, with a decrease in car prices the main contributor. Despite the downbeat read, SGD found bids vs USDs.
USD/SGD spot is currently in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 44.52, up from it’s last hourly close at 35.21, while ADX is ranging above 30 at 18.96, down from 25.16 at the last hourly close.
Current price is 1.2370, with resistance ahead at 1.2375 (Daily Classic S2), 1.2378-80 (Hourly 20 EMA, Daily High), 1.2383 (Weekly Classic S1) and 1.2388 (Daily Classic S1). Next support to the downside can be found at 1.2368 (Daily Open, Monthly Low and Weekly Low), 1.2363 (Yesterday's Low).