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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

Risk On Supports SGD

SGD

Spot USD/SGD is down 13 pips today, last at 1.3333 currently testing session lows after bouncing from the level earlier. Singapore dollar is supported by a risk on tone, STI is up 0.6%.

  • Bears look a for a drop through first support at 1.3320, more significant support at 1.3300. Below this the 76.4% retracement of the 2021 trough to peak move at 1.3212 was tested twice in January. Support levels below here are thin with the rate not touching these levels since mid-2018, the 2021 low sits at 1.3157.
  • USD/SGD crossed above its 50-day moving average in late Jan, and now has the 100-day moving average in its sights – currently at 1.3433. Bulls need a break above 1.34 which acted as a cap through December to confirm an upside break. After the 100-day moving average the pair runs into significant resistance is at 1.3509 the 23.6% retracement of the cycle move lower.


USD/SGD