USD/SGD strengthened, following the upward movement in USD/CNH. The pair was last at 1.3435, note OCBC currency analysts Frances Cheung and Christopher Wong.
The pair will continue to take directional signals from the USD and CNY
“Slight bearish momentum on the daily chart remains intact while the RSI fell. Consolidation is likely with a slight downward tilt. Support at 1.3340 (200-day SMA, 23.6% fibo), 1.33, 1.3240 (retracement of 32.8% Fib from September low to November high). 1.3490.”
“The pair should continue to take directional cues from USD and CNY moves in the absence of key data. The next SG data set is NODX (Dec 17) and CPI (Dec 23). S$NEER was last time at 1.08% 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.
