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26 Jun 2013
USD/SGD taking some breath off fresh 1-year highs above 1.27
FXstreet.com (Barcelona) - USD/SGD is last trading near session highs at 1.2714, off session lows at 1.2677, stalling the retrace started Monday at fresh 1-year highs 1.2814, after finding short term support at yesterday's weekly lows 1.2660.
As reported by Chun Han Wong for DowJones Newswires, “analysts say relief gains on the local currency may be limited as concerns linger over the U.S. Federal Reserve's potential rollback of its bond-buying program, which has prompted the recent bout of dollar strength.” The pair is up +4.15% year to date.
Immediate resistance to the upside for USD/SGD shows at current levels as May 28 highs 1.2725, followed by yesterday's highs at 1.2768, and Monday's fresh 1-year highs at 1.2817. To the downside, closest support lies at recent session lows 1.2677, followed by yesterday's weekly lows at 1.2660, and June 11 highs at 1.2631.
As reported by Chun Han Wong for DowJones Newswires, “analysts say relief gains on the local currency may be limited as concerns linger over the U.S. Federal Reserve's potential rollback of its bond-buying program, which has prompted the recent bout of dollar strength.” The pair is up +4.15% year to date.
Immediate resistance to the upside for USD/SGD shows at current levels as May 28 highs 1.2725, followed by yesterday's highs at 1.2768, and Monday's fresh 1-year highs at 1.2817. To the downside, closest support lies at recent session lows 1.2677, followed by yesterday's weekly lows at 1.2660, and June 11 highs at 1.2631.