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NEER Within Recent Ranges, USD/SGD Holding Above 20-Day EMA

SGD

The SGD NEER (per Goldman Sachs estimates) is little changed in early dealing on Tuesday and remains well within recent ranges. The measure sits ~0.6% below the top of the band.

  • USD/SGD is holding in a narrow range above the 20-Day EMA ($1.3667) as of yet the pair has been unable to sustain a rally above the $1.37 handle. We sit at $1.3685/90.
  • On the upside bulls target the high from 30 Nov 22 ($1.3765), a break through here opens $1.3904 a Fibonacci projection. Bears look to break the 20-Day EMA to target the $1.36 handle.
  • Looking ahead, a reminder that the local docket is empty for the remainder of the week.

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