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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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