29 Jul 2013
USD/SGD unchanged around the 1.2640 level
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2643, off recent session lows at 1.2620, and unchanged from previous weekly close Friday, around same quotes since late May.
USD/SGD trapped in a tight trading range
According to IFR Markets analyst Catherine Tan the pair has been weighed by lower USD/JPY and weak exports, pointing for the shorts covering in EUR/SGD to provide some support for USD/SGD. The analyst believes the pair should hold inside the 1.2600/1.2650 trading range, ahead of key data later in the week as soon as Wednesday with ADP, US GDP, and FOMC.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session lows 1.2620, followed by Tuesday's lows at 1.2585, and July 17 lows at 1.2566. To the upside, closest resistance shows at recent session highs 1.2654, followed by July 15 highs at 1.2685, and Wednesday's/Thursday's highs at 1.2702.
USD/SGD trapped in a tight trading range
According to IFR Markets analyst Catherine Tan the pair has been weighed by lower USD/JPY and weak exports, pointing for the shorts covering in EUR/SGD to provide some support for USD/SGD. The analyst believes the pair should hold inside the 1.2600/1.2650 trading range, ahead of key data later in the week as soon as Wednesday with ADP, US GDP, and FOMC.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session lows 1.2620, followed by Tuesday's lows at 1.2585, and July 17 lows at 1.2566. To the upside, closest resistance shows at recent session highs 1.2654, followed by July 15 highs at 1.2685, and Wednesday's/Thursday's highs at 1.2702.