Currency Pairs : USDSGD & CADSGD
Technical Perspectives:
USDSGD retraced lower in the early asia and europe sessions along with USDJPY seen moving lower but managed to find some bids near 1.2490 and 101.10 respectively before retracing in the US Sessions towards the Asia's hours high. The early downmove in the Monday movement is a strong bullish move for dollar, as it moved down first and managed to close near its high showing a demand and longer wick trading in a candlestick movement. Support may be tested again, but technically it signify a strong support.
Intra-day resistance for USDSGD lies at 1.2515, which can be indicated as the key pivot on the USDSGD chart, above 1.2515, we should see a stronger movement towards next key resistance at 1.2540. Meanwhile, CADSGD is trading on the upper boundary range, and 1.1540 seems prone to breakout soon if we see momentum rush align on USDSGD as well. However, technically, sellers are still entering in this level, but price action seems to be bullish unless S1 on CADSGD is broken first.
Technically, the key mover for today is GBP CPI y/y, else other fundamental movement will be purely updated via social media like twitter as such from political comments or global events like Ukraine etc.
Technical Perspectives:
USDSGD retraced lower in the early asia and europe sessions along with USDJPY seen moving lower but managed to find some bids near 1.2490 and 101.10 respectively before retracing in the US Sessions towards the Asia's hours high. The early downmove in the Monday movement is a strong bullish move for dollar, as it moved down first and managed to close near its high showing a demand and longer wick trading in a candlestick movement. Support may be tested again, but technically it signify a strong support.
Intra-day resistance for USDSGD lies at 1.2515, which can be indicated as the key pivot on the USDSGD chart, above 1.2515, we should see a stronger movement towards next key resistance at 1.2540. Meanwhile, CADSGD is trading on the upper boundary range, and 1.1540 seems prone to breakout soon if we see momentum rush align on USDSGD as well. However, technically, sellers are still entering in this level, but price action seems to be bullish unless S1 on CADSGD is broken first.
Technically, the key mover for today is GBP CPI y/y, else other fundamental movement will be purely updated via social media like twitter as such from political comments or global events like Ukraine etc.