16 Jan 2014
Flash: USD/SGD strength to target 1.2790 - UOB
FXstreet.com (Bali) - According to Quek Ser Leang, Market Strategist at UOB Group, the USD/SGD should resume its upward momentum this month.
Key Quotes
"In-line with expectation, continue to expect USD strength towards 1.2790 in the coming weeks"
"USD just took out last week’s high at 1.2739 earlier this morning. The current up-move is in-line with our expectation of further USD strength in the coming weeks ."
"The drop due to the weak non-farm payroll data last Friday touched a low of 1.2630 but the surge higher over the last couple of days suggests that USD is on track for a move towards the target at 1.2790 (followed by 1.2860)."
"The buy levels highlighted at 1.2705 and 1.2635 are both met (average 1.2670). The key support has moved higher from 1.2565 to 1.2615/20."
Key Quotes
"In-line with expectation, continue to expect USD strength towards 1.2790 in the coming weeks"
"USD just took out last week’s high at 1.2739 earlier this morning. The current up-move is in-line with our expectation of further USD strength in the coming weeks ."
"The drop due to the weak non-farm payroll data last Friday touched a low of 1.2630 but the surge higher over the last couple of days suggests that USD is on track for a move towards the target at 1.2790 (followed by 1.2860)."
"The buy levels highlighted at 1.2705 and 1.2635 are both met (average 1.2670). The key support has moved higher from 1.2565 to 1.2615/20."