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19 Feb 2014
Flash: USD/SGD supported at 1.2580 - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group expects pullbacks in USD/SGD to find decent support around 1.2580.
Key Quotes
"While yesterday’s high of 1.2627 remains below the short-term key resistant at 1.2630, the risk for a move towards the strong support at 1.2560/70 has diminished considerably".
"For today, a break above 1.2630 may trigger short-covering but any further up-move is expected to stay below 1.2660. Solid support is at 1.2580 now."
Key Quotes
"While yesterday’s high of 1.2627 remains below the short-term key resistant at 1.2630, the risk for a move towards the strong support at 1.2560/70 has diminished considerably".
"For today, a break above 1.2630 may trigger short-covering but any further up-move is expected to stay below 1.2660. Solid support is at 1.2580 now."