USDSGD Technical Point
- The USDSGD has consolidated at current level since bottoming in 2011 and it seems ready to break towards the upside.
- Trading within resistance level. A break above 1.2857 could reinforce the uptrend.
- Primary target price at around 1.3223
- Technical indicators for the USDSGD are mixed. With a good chance for long term gains but the US Dollar index seem to be trading in a weak area, and possible lose ground against major currencies.This could favour the Singapore dollar.
USDSGD Fundamental Points
- USA consumer confidence is expected slightly lower on Tuesday.
- Singapore Industrial Production year on year was better than expected but had little influence in the pair.
- Traders are aware that the USA Fed’s economic stimulus might end sooner than later.
- GDP and Jobless claim on Thursday could help the USDSGD to push higher.