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Hovers Around Support Level

SGD

A weaker greenback after disappointing NFP data on Friday saw USD/SGD plunge, the pair dropped to support at a 76.4% retracement level at 1.3245, the pair last trading a 1.3243, down 2 pips on the session. 2021 lows at 1.3157 are now in focus, and higher up resistance is seen at 1.3300, a 61.8% retracement level.

  • On the coronavirus front there were only six cases discovered locally in the past 24 hours, the lowest tally since May 10.
  • Elsewhere it is expected to be a quiet week with only foreign reserves data later today at 1000BST/1700HKT on the schedule the entire week.
  • Fig.1: USD/SGD

Source: MNI/Bloomberg

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