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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