Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
USD/SGD jumps by 44 pips during the day
USD/SGD rises as the indicators disappoint the market. The non-oil exports declined by 17.3%, lower than -16.3% previously and much lower than the expected -9.9%. The data weakened the Singapore dollar against the USD.
On H4, USD/SGD retested the old-time resistance at 1.3623. The next resistance will lie at 1.3658. From the downside, pay attention to the first support at the 200-period SMA (1.3609 level). The break of this level will help sellers to pull the price towards the 1.3585 level.
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