1 Aug 2013
USD/SGD closes in NY above 1.27
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2717, off late NY session 2-week highs at 1.2757, printed on the back of better than expected US GDP, from where it retraced to recent session lows at 1.2694 after FOMC.
USD/SGD bulls in control
According to IFR Markets analyst Richard Sexton the daily close above the 1.27 handle is a bullish sign which proves bulls are in control. “June 2012 high below 1.30 should be tested in days to come,” Sexton said, adding they will continue to buy dips, with first support at the 1.27 big figure, previous resistance.
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at NY session fresh 2-week highs 1.2757, followed by June 26 highs at 1.2784, and June 24 highs at 1.2816.To the downside, closest support lies at July 19 highs 1.2710, followed by July 25 highs at 1.2700, and July 15 1.2685.
USD/SGD bulls in control
According to IFR Markets analyst Richard Sexton the daily close above the 1.27 handle is a bullish sign which proves bulls are in control. “June 2012 high below 1.30 should be tested in days to come,” Sexton said, adding they will continue to buy dips, with first support at the 1.27 big figure, previous resistance.
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at NY session fresh 2-week highs 1.2757, followed by June 26 highs at 1.2784, and June 24 highs at 1.2816.To the downside, closest support lies at July 19 highs 1.2710, followed by July 25 highs at 1.2700, and July 15 1.2685.