USD/SGD: Slight risk to the upside – OCBC
Source Fxstreet
USD/SGD inched higher, tracking moves in broad US Dollar (USD). Pair was last at 1.3380 levels, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Consolidation is likely
“Daily momentum is mild bullish while RSI rose. Consolidation likely with slight risk to the upside. Resistance here at 1.3410 levels (76.4% fibo). Support at 1.3340 (200 DMA), 1.3290 (61.8% fibo retracement of Jun high to Oct low).”
“S$NEER was last at 1.38% above model-implied mid.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The AUD/JPY cross extends its upside to around 98.80 during the early European session on Wednesday.
Analyst notes that the BTC price movement mirrors the Soybean price ahead of its 1977 crash, when it declined 50% in value.
Pound Sterling (GBP) weakens against its major rivals early Wednesday as markets assess softer-than-expected inflation data from the UK.
The USD/CHF pair trades firmly near Tuesday’s high around 0.7970 during the Asian trading session on Wednesday.
Top 3 Price Prediction: BTC struggles below key resistance, ETH and XRP eye further weaknessBitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
Bitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
Related Instrument
