Back
5 Aug 2013
USD/SGD holding above key 1.27 support
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at 1.2724, off recent session highs at 1.2739, little changed from previous weekly close Friday at around current level.
USD/SGD bullish while above 1.27
“Our long remains active while daily closes remain above the 1.27 big figure that has recently been resistance and is now support,” said IFRMarkets analysts, adding their intraday stop loss is placed at 1.2640 “to lock in a small profit,” while looking for a daily close above the next big resistance at 1.28 in order to “put our 1.2940 target firmly in focus.”
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at recent session highs 1.2739, followed by Friday's fresh 2-week highs at 1.2772, and June 26 highs at 1.2784. To the downside, closest support lies at recent session lows 1.2698, followed by July 16 highs at 1.2685, and July 12 highs at 1.2671.
USD/SGD bullish while above 1.27
“Our long remains active while daily closes remain above the 1.27 big figure that has recently been resistance and is now support,” said IFRMarkets analysts, adding their intraday stop loss is placed at 1.2640 “to lock in a small profit,” while looking for a daily close above the next big resistance at 1.28 in order to “put our 1.2940 target firmly in focus.”
USD/SGD key technical levels
Immediate resistance to the upside for USD/SGD shows at recent session highs 1.2739, followed by Friday's fresh 2-week highs at 1.2772, and June 26 highs at 1.2784. To the downside, closest support lies at recent session lows 1.2698, followed by July 16 highs at 1.2685, and July 12 highs at 1.2671.