FXstreet.com (Barcelona) – The USD/SGD foreign exchange rate is last trading at 1.2824 off recent session and weekly highs at 1.2831, slightly up for the week so far, although still below past Thursday’s double multi-month high at 1.2865.
USD/SGD double top possibly forming
According to IFRMarkets analyst Richard Sexton, the area now between the 1.2800 and the 1.2860 is the key resistance zone, with the “price hovering inside,” Sexton said. “Possible double top forming although daily close above 1.286 would be bullish. If bears manage to get momentum going – join short for double top trade,” Sexton added. The pair is …read more