USDSGD Turning Bullish – Technical Analysis

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.

usdsgd

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