DislikedAnyone trades USD/SGD here? Inability for the pair to take off after breaking 1.2900 is disconcerting (and annoying).Ignored
If you DON'T take into account the fact that USDSGD is a "managed float", USD actually has some scope to test 1.3000. Just draw a horizontal line at 1.3000 and look as far back as 2011, you can see there's a lot of history around that level.
But the problem is this: USDSGD *IS* a managed float. You don't know how MAS's basket composition looks like (you can guess) and how MAS manages its NEER band.
Already am seeing minor resistance between 1.2930-1.2940, which could mean anything but I'd like to think it's MAS slowing things down a bit. I would be very careful going forward and not load up any new longs.
I'm not trying to convince anyone. I'm not in the "convincing" business.