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10 Sep 2013
USD/SGD succumbs below 1.2700
FXstreet.com (Barcelona) - The USD/SGD foreign exchange rate is last trading at fresh session and weekly lows 1.2677 bids off yesterday's weekly highs at 1.2760 down -0.47% for the week so far mostly on USD weakness.
USD/SGD much more downside to come
According to IFRMarkets analyst Richard Sexton, the USD/SGD's “Double top pattern from recent 1.2860 high” is playing out, with “Much more downside to come,” Sexton adds, pointing to a initial trendline support at 1.2640. Sexton suggest to “Sell any rallies - first resistance at Sept 3 low at 1.2716.”
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at August 15 lows 1.2668, followed by August 06 lows at 1.2654, and July 26/29 lows at 1.2618. To the upside, closest resistance shows at recent session highs 1.2700, followed by Sept 03 lows at 1.2714, and August 30 lows at 1.2723.
USD/SGD much more downside to come
According to IFRMarkets analyst Richard Sexton, the USD/SGD's “Double top pattern from recent 1.2860 high” is playing out, with “Much more downside to come,” Sexton adds, pointing to a initial trendline support at 1.2640. Sexton suggest to “Sell any rallies - first resistance at Sept 3 low at 1.2716.”
USD/SGD key technical levels
Immediate support to the downside for USD/SGD lies at August 15 lows 1.2668, followed by August 06 lows at 1.2654, and July 26/29 lows at 1.2618. To the upside, closest resistance shows at recent session highs 1.2700, followed by Sept 03 lows at 1.2714, and August 30 lows at 1.2723.