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18 Oct 2013
USD/SGD holds on to 1.24 territories; subdued at 5-month depths
FXstreet.com (Chicago) - USD/SGD soared to 1.2407 session highs (revisiting spikes in later hours) after bounce from 1.2385 lows amid concerns about the USD future performance in what is left for the year.
USD/SGD Technical Levels
Amid concerns about the bond-buying program reduction by the Federal Reserve in the US with a dovish view on Yellen’s nomination and deadlines for shutdown and debt ceiling on January15th and February 15th respectively, the dollar pulls off a bounce from session lows, 5-month bottoms. Offered at 1.2403, the pair remains subdued navigating between supports aligned at 1.2386 (session lows), 1.2353 (May 2nd highs) ahead of 1.23 (May 2nd lows) and the resistances set at 1.2453 (October 4rd lows), 1.25 (September 27th lows) followed by 1.2540 (October 14th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
USD/SGD Technical Levels
Amid concerns about the bond-buying program reduction by the Federal Reserve in the US with a dovish view on Yellen’s nomination and deadlines for shutdown and debt ceiling on January15th and February 15th respectively, the dollar pulls off a bounce from session lows, 5-month bottoms. Offered at 1.2403, the pair remains subdued navigating between supports aligned at 1.2386 (session lows), 1.2353 (May 2nd highs) ahead of 1.23 (May 2nd lows) and the resistances set at 1.2453 (October 4rd lows), 1.25 (September 27th lows) followed by 1.2540 (October 14th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.