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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.
AUD
Friday's gains in AUD/SGD allowed the pair to claw back losses registered earlier in the week and snap a three-week losing streak. The recovery seen at the back end of last week represented a bounce off the lower 2.0% Bollinger band, which today intersects at SGD1.0172, but the upswing has been capped today by the top of the bear channel drawn off May 10 high. The rate last deals at SGD1.0253, marginally higher on the day as we type.
- Bulls look to force a sustained break above the aforementioned channel top at SGD1.0273, which would allow them to set their sights on May 18 high of SGD1.0392, followed by May 10 high of SGD1.0444.
- On the downside, key near-term support zone has been defined at SGD1.0157/52, which represent the low prints of Jun 3/Apr 1, located just above the lower 2.0% Bollinger band. The next layer of support comes in at SGD1.0128, bear channel floor.
Fig. 1: AUD/SGD
Source: MNI - Market News/Bloomberg
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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