USD Gives Up Early Gains Against Singapore Dollar $USDSGD Forex
Enter your emailThe only thing that you can count on these days is a lot of choppiness and volatility, as the market certainly seems to be on edge.
The US dollar initially tried to rally against the Singapore dollar on Friday but also gave up quite a bit of the gain to form a less-than-attractiveThat being said, the market is likely to continue drifting lower, especially as we are seeing the US dollar sell off against quite a few currencies.
On the upside, we could see the 1.36 level tested, but it is also where you would expect to see a bit of selling pressure as well. I think at this point, we simply go back and forth in this larger consolidation area that I have mapped out, and it is likely that we will continue to see a lot of noisy behavior, as we are getting close to the middle of it and essentially what you would consider being “fair value.
The only thing that you can count on these days is a lot of choppiness and volatility, as the market certainly seems to be on edge. The Singapore dollar is a little bit more stable than some of the other currencies out there, but ultimately the US dollar is going to act like a wrecking ball to almost everything it touches if it strengthens, and that will not be any different here. Because just, but right now it looks like we are heading lower in the short term.
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