USD/SGD continued to rise, following the overall strength of the USD while the EUR and RMB weakened. The pair was last at 1.3475, note OCBC FX analysts Frances Cheung and Christopher Wong.
The pair will take directional signals from the movements of the USD and the CNY
“The slight bearish momentum on the daily chart faded while the RSI rose. Consolidation is likely with a slight upward tilt. Resistance at 1.3490, 1.3520 levels. Support at 1.3340 (200 DMA, 23 fibo retracement, 6% from September low to November high), 1.33 The pair should continue to take directional signals from the USD and CNY movements in the absence of data. clue.”
“The next SG data set is NODX (Dec 17) and CPI (Dec 23). S$NEER was last 0.98% above the model implied midpoint.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
