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24 Dec 2013
USD/SGD consolidates near December highs
FXstreet.com (Córdoba) - The USD/SGD finished higher on Monday but it was unable to rally above 1.2690. The upside continues to remain capped by the 1.2685 area. Yesterday the pair hit the strongest level since mid-September at 1.2686 (just one pip above the previous high).
Momentum continues to favor the upside but since last Friday it had been moving in consolidation mode, moving in a range with resistance at 1.2685 and support at 1.2640.
Second monthly gain for the USD/SGD
The US dollar is about to finish higher for the second month in a row, approaching to 2013 highs that lie 1.2860 (August highs). Last week Greenback accelerated the upside after breaking above 1.2575 that offered resistance in November and also in the second half of September.
Momentum continues to favor the upside but since last Friday it had been moving in consolidation mode, moving in a range with resistance at 1.2685 and support at 1.2640.
Second monthly gain for the USD/SGD
The US dollar is about to finish higher for the second month in a row, approaching to 2013 highs that lie 1.2860 (August highs). Last week Greenback accelerated the upside after breaking above 1.2575 that offered resistance in November and also in the second half of September.