
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
2019-11-11 • Updated
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).
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
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