USD/SGD's Recent Movements Continue to Suggest Weakness, Chart Shows -- Market Talk

Dow Jones

2024-08-01

0736 GMT - USD/SGD's recent movements continue to suggest weakness, based on its weekly chart, Quek Ser Leang, markets strategist at UOB's Global Economics & Markets Research team, says in a research report. After trading in a range for a couple of weeks and holding below 1.3515, USD/SGD plunged on Wednesday, breaking clearly below the 1.3380-1.3400 support area, the strategist says. This break has been accompanied by increasing downward momentum, the strategist says. The support level to monitor is 1.3325, followed by a significant support zone between 1.3240 and 1.3270, the strategist adds. USD/SGD is 0.1% higher at 1.3377. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

August 01, 2024 03:37 ET (07:37 GMT)

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After trading in a range for a couple of weeks and holding below 1.3515, USD/SGD plunged on Wednesday, breaking clearly below the 1.3380-1.3400 support area, the strategist says. This break has been accompanied by increasing downward momentum, the strategist says. The support level to monitor is 1.3325, followed by a significant support zone between 1.3240 and 1.3270, the strategist adds. USD/SGD is 0.1% higher at 1.3377. 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After trading in a range for a couple of weeks and holding below 1.3515, USD/SGD plunged on Wednesday, breaking clearly below the 1.3380-1.3400 support area, the strategist says. This break has been accompanied by increasing downward momentum, the strategist says. The support level to monitor is 1.3325, followed by a significant support zone between 1.3240 and 1.3270, the strategist adds. USD/SGD is 0.1% higher at 1.3377. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 01, 2024 03:37 ET (07:37 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones & Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2456175178","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2456175178","pubTimestamp":1722497820,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0736 GMT - USD/SGD's recent movements continue to suggest weakness, based on its weekly chart, Quek Ser Leang, markets strategist at UOB's Global Economics & Markets Research team, says in a research report. 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After trading in a range for a couple of weeks and holding below 1.3515, USD/SGD plunged on Wednesday, breaking clearly below the 1.3380-1.3400 support area, the strategist says. This break has been accompanied by increasing downward momentum, the strategist says. The support level to monitor is 1.3325, followed by a significant support zone between 1.3240 and 1.3270, the strategist adds. USD/SGD is 0.1% higher at 1.3377. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 01, 2024 03:37 ET (07:37 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}