16 Jul 2013
USD/SGD supported above 1.2600
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2612, off recent session and weekly lows at 1.2593, ahead of key US CPI data at 12:30 GMT.
USD/SGD bearish momentum suggests further downside
According to IFR Markets, there is a gap around the 1.2700 region “that will likely be filled at some stage.” The analysts see bearish momentum building up at last week's low suggesting “further downside to come,” and so they retain the offer opened last week at 1.27 “for now.”
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session/weekly lows 1.2593, followed by Friday's lows at 1.2570, and June 19 lows at 1.2545. To the upside, closest resistance shows at July 02 lows 1.2627, followed by June 25 lows/Friday's highs at 1.2660/70, and late London session highs at 1.2686.
USD/SGD bearish momentum suggests further downside
According to IFR Markets, there is a gap around the 1.2700 region “that will likely be filled at some stage.” The analysts see bearish momentum building up at last week's low suggesting “further downside to come,” and so they retain the offer opened last week at 1.27 “for now.”
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session/weekly lows 1.2593, followed by Friday's lows at 1.2570, and June 19 lows at 1.2545. To the upside, closest resistance shows at July 02 lows 1.2627, followed by June 25 lows/Friday's highs at 1.2660/70, and late London session highs at 1.2686.