23 Jul 2013
USD/SGD testing key 1.26 support
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at bids 1.2588 as fresh session and weekly lows printed on the back of broad USD weakness, holding above past 2 week lows.
USD/SGD putting 1.2580/80 stops at risk
As IFR Markets analyst Catherine Tan points out, the USD/SGD has been pressured below the key 1.26 support on weak US housing data, and dimming QE tapering expectations. She spots stop orders below the 1.2580/80 level, now at risk, Tan said. June CPI will be out at 05:00 GMT, expected at 1.8% y/y vs 1.6% previous.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session lows 1.2586, followed by July 12/17 lows at 1.2572/64, and June 19 lows at 1.2545. To the upside, closest resistance shows at June 28 lows 1.2615, followed by July 02 lows at 1.2627, and June 11 highs at 1.2636.
USD/SGD putting 1.2580/80 stops at risk
As IFR Markets analyst Catherine Tan points out, the USD/SGD has been pressured below the key 1.26 support on weak US housing data, and dimming QE tapering expectations. She spots stop orders below the 1.2580/80 level, now at risk, Tan said. June CPI will be out at 05:00 GMT, expected at 1.8% y/y vs 1.6% previous.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at recent session lows 1.2586, followed by July 12/17 lows at 1.2572/64, and June 19 lows at 1.2545. To the upside, closest resistance shows at June 28 lows 1.2615, followed by July 02 lows at 1.2627, and June 11 highs at 1.2636.