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27 Aug 2013
USD/SGD regains the 1.2800 handle on Syrian tensions
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2824 off recent session and weekly highs at 1.2831, slightly up for the week so far, although still below past Thursday's double multi-month high at 1.2865.
USD/SGD double top possibly forming
According to IFRMarkets analyst Richard Sexton, the area now between the 1.2800 and the 1.2860 is the key resistance zone, with the “price hovering inside,” Sexton said. “Possible double top forming although daily close above 1.286 would be bullish. If bears manage to get momentum going - join short for double top trade,” Sexton added. The pair is up +0.29% for the week thus far.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at current levels as NY ession highs 1.2820, followed by August 20 highs at 1.2800, and Monday's weekly lows at 1.2770. To the upside, closest resistance lies at recent session highs 1.2830, followed by Thursday's fresh 7-week highs at 1.2862/5, and June 08 2012 highs at 1.2887.
USD/SGD double top possibly forming
According to IFRMarkets analyst Richard Sexton, the area now between the 1.2800 and the 1.2860 is the key resistance zone, with the “price hovering inside,” Sexton said. “Possible double top forming although daily close above 1.286 would be bullish. If bears manage to get momentum going - join short for double top trade,” Sexton added. The pair is up +0.29% for the week thus far.
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at current levels as NY ession highs 1.2820, followed by August 20 highs at 1.2800, and Monday's weekly lows at 1.2770. To the upside, closest resistance lies at recent session highs 1.2830, followed by Thursday's fresh 7-week highs at 1.2862/5, and June 08 2012 highs at 1.2887.