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NEER Within Recent Ranges, USD/SGD See-Sawing Around $1.36

SGD

The SGD NEER (per Goldman Sachs estimates) is marginally lower this morning, the measure sits well within recent ranges. We sit ~0.4% below the top of the band.

  • USD/SGD continues to see-saw around the $1.36 handle as narrow ranges persist. The pair has observed a $1.3580/1.3620 range for the most part since Friday.
  • Bulls have broken the 200-Day EMA ($1.3548) and now target a break of the 20-Day EMA ($1.3622) to re-establish the uptrend. Bears target the $1.34 handle which opens the low from July 14 at $1.3174.
  • A reminder that the local data docket is thin this week with just October Non-Oil and Electronic Exports due on Friday.

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