Forex: USD/SGD seen firm above 1.22 round
Forex pairs in this Article »
USD/SGD
FXstreet.com (Barcelona) - Very quiet Asia-Pacific session so far for USDSGD, last at 1.2221 bids, about flat for the session, with lows at 1.2213 and highs just few pips above current quote. The pair is higher for the week so far a +0.10%, at multi-year volatility lows, with less than 29 pips on average for last 14 trading days range.
"No interest is seen on either side," says FXMarketAlerts Team, "as traders stay away from speculative interest into year end," the analyst note, adding: "SGD NEER is seen at +1.60%, a tad lower than the +1.65% seen on the previous Friday. While we will not be surprised to see agent bank bids pop up at around 1.2180, we do not expect the pair to trade below 1.2200 for long," the team concludes.
Immediate resistance to the upside for USDSGD shows at yesterday's weekly highs/Nov 20 lows 1.2230, followed by Nov 28 highs at 1.2244, and Nov 05/09 highs at 1.2265/8. To the downside, closest support lies at Nov 23/26/yesterday's NY session lows 1.2214/2, followed by yesterday's/Friday's lows at 1.22 round, and Nov 29/30 lows at 1.2195.
"No interest is seen on either side," says FXMarketAlerts Team, "as traders stay away from speculative interest into year end," the analyst note, adding: "SGD NEER is seen at +1.60%, a tad lower than the +1.65% seen on the previous Friday. While we will not be surprised to see agent bank bids pop up at around 1.2180, we do not expect the pair to trade below 1.2200 for long," the team concludes.
Immediate resistance to the upside for USDSGD shows at yesterday's weekly highs/Nov 20 lows 1.2230, followed by Nov 28 highs at 1.2244, and Nov 05/09 highs at 1.2265/8. To the downside, closest support lies at Nov 23/26/yesterday's NY session lows 1.2214/2, followed by yesterday's/Friday's lows at 1.22 round, and Nov 29/30 lows at 1.2195.
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