Forex Flash: USD/SGD biased towards longer term base above 1.20 - ANZ
FXstreet.com (Barcelona) - Long-term profiles for USD/SGD are biased towards a longer term base forming over recent years above the psychological level of 1.20, says Tim Riddell, Head of Global Markets Research at ANZ.
Tim adds: "The pullback from above 1.2500 held relatively well and so a break back above 1.2450 could trigger a more pronounced rebound towards the 1.2625-50 area and so increase the potential that a broader basing structure may be developing. A slip back below 1.2335 might postpone rebounds, but a break below 1.2290 is needed to undermine this more USD positive profile."