SGDUSD Continues Moves Within a Range

While USDSGD began the past week of trading with a downward moves, these were quickly reversed by the end of the week and the price ended up where it started: Clearly, traders can see over the past few months that USDSGD prefers to trade within its range of horizontal resistance at around 1.3612 and of support between around 1.3442 and 1.3473. Bull bear indicator signals oversold while RSI is less convinced of a move in either direction. Meanwhile, a whole host of exponential moving averages suggests that the trend is further down. Overall, the in general picture for USDSGD remains what it was last week and the week prior which is to short. 

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