- Analytics
- News and Tools
- Market News
- USD/SGD: Daily momentum remains bullish – OCBC
USD/SGD: Daily momentum remains bullish – OCBC
USD/SGD continued to trade near recent high with SGD weakness mirroring JPY and CHF softness. Last at 1.3231 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
SGD weakness mirrors JPY and CHF softness
“Daily momentum remains bullish while RSI is near overbought conditions. Potentially, a rising wedge pattern is coming into sight. This is typically associated with a bearish reversal. We monitor price pattern if a turn lower is near.”
“Resistance at 1.3290 (61.8% fibo retracement of Jun high to Oct low), 1.3350 levels (200 DMA). Support at 1.3190 (50% fibo), 1.31 (38.2% fibo). S$NEER was last at 1.44% above model-implied mid.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
