USD/SGD: a chance to recover
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BUY 1.3615; TP1 1.3635; TP2 1.3665; SL 1.3605
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline. Yesterday the advance stalled at the 200-day MA (1.3610). That was natural: it’s hard for the market to take out such resistance from the first attempt. However, if bulls keep pushing, a break of this level will open the way up to 1.3640 and 1.3665. Support is at 1.3585 and 1.3560 (weekly pivot point).
