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19 Dec 2013
USD/SGD breaks above 1.26, daily ichimoku cloud
FXstreet.com (Bali) - USD/SGD is consolidating gains after breaking the 1.26 barrier, with the pair now under re-distribution phase with technicals suggesting further gains lying ahead.
From an ichimoky perspective, the pair has broken above a thick daily cloud, resulting on the anticipation of more gains, especially after a solid close above the 1.26 round number.
Any dips since the Fed taper announcement have been consistently bought, with a retest of 1.26 in early Asia finding plenty of bids being filled. Next upside target should be encountered at 1.2650 ahead of 1.2675 and 1.27, all aligning with intraday levels.
From an ichimoky perspective, the pair has broken above a thick daily cloud, resulting on the anticipation of more gains, especially after a solid close above the 1.26 round number.
Any dips since the Fed taper announcement have been consistently bought, with a retest of 1.26 in early Asia finding plenty of bids being filled. Next upside target should be encountered at 1.2650 ahead of 1.2675 and 1.27, all aligning with intraday levels.