USD/SGD strong above 1.2750 ahead of FOMC

FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading near session highs at 1.2765 bids, limited so far below recent session highs at 1.2770 despite broad USD weakness against majors.

USD/SGD will keep long in play

According to IFRMarkets, “Tuesday saw the rally test the 1.28 level that has turned price lower several times in recent months - this is the long term 61.8% fib. Offers there have seen a retrace but while price holds above 1.27 we will keep our long in play.” IFRMarkets believes an extended rally to hit past June 2012 highs shy of the 1.30 level is the most probable scenario.

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.

Aug 21, 2013

Japan to raise severity of latest Fukushima leak to level 3

As the situation in the nuclear plant in Fukushima deteriorates, the Nikkei 225 has evaporated its early gains (+0.6%) to now trade almost 1% well into the red, with headlines crossing the wires that Japan is to raise (not raises as previously reported) severity of latest Fukushima leak to level 3, which is considered "serious radiation incident" on international scale-agency.

EUR/JPY shaken by radiation; held by 130.40 after plunge

EUR/JPY reacted to the potential announcement of an increment of the Japanese radiation alert to level 3, dragging the Nikkei from 0.60% to -0.25% within minutes as market participants take action on news.