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8 Jan 2014
USD/SGD breaks above 1.2700
FXstreet.com (Córdoba) - The USD/SGD rose strongly on Tuesday, breaking above 1.2700 for the first time since early September. Above the mark the USD strengthened and climbed to 1.2718 reaching the highest price in almost three months.
USD/SGD resumes uptrend
During December the US dollar rallied after breaking above 1.2570, approaching 1.2700. Despite several attempts, it failed to break higher in the last days of 2013 and retreated sharply to 1.2615. From there the USD/SGD resumed the uptrend in the first trading day of 2014, approached 1.2700 and manged to break it on Tuesday, after rising in the three of the last four trading days.
To the upside, resistance levels could be located at 1.2730 and above at 1.2770 while support levels might lie at 1.2700 (previous resistance) and below at 1.2645 and 1.2580. The bias remains bullish, with key support around 1.2550/60 (trendline).
USD/SGD resumes uptrend
During December the US dollar rallied after breaking above 1.2570, approaching 1.2700. Despite several attempts, it failed to break higher in the last days of 2013 and retreated sharply to 1.2615. From there the USD/SGD resumed the uptrend in the first trading day of 2014, approached 1.2700 and manged to break it on Tuesday, after rising in the three of the last four trading days.
To the upside, resistance levels could be located at 1.2730 and above at 1.2770 while support levels might lie at 1.2700 (previous resistance) and below at 1.2645 and 1.2580. The bias remains bullish, with key support around 1.2550/60 (trendline).