The USDSGD fell this morning, initially breaking below the 1.3375 level. This downward movement is marked by growing concerns about the return of inflation in the United States. But it is also due to GDP data from the Singapore economy, which showed better recovery than expected by the market.
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From a technical point of view, the downward movement seems to be a false break to resume the upward trend that started in February. Buyers initially target the 1.3520 regions, where the USDSGD may encounter significant resistance.
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© 2019 High Leverage FX - All Rights Reserved.