4 Jul 2013
Flash: USD/SGD uptrend genuine, range risks loom - ANZ
FXstreet.com (Barcelona) - The failure to sustain the minor breach of 1.2800 leaves USD/SGD at risk of being range bound, says Tim Riddell, Head of FX Market Research at ANZ.
However, Riddell admits that the trend change is still seen as genuine. According to the Researcher, "an interim slippage below 1.2600 may create a sense of doubt, but a break of 1.2540 is needed to negate the current bias for a return to the USD uptrend and moves towards 1.2865 if not the 1.3000-40 area."
However, Riddell admits that the trend change is still seen as genuine. According to the Researcher, "an interim slippage below 1.2600 may create a sense of doubt, but a break of 1.2540 is needed to negate the current bias for a return to the USD uptrend and moves towards 1.2865 if not the 1.3000-40 area."