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USD/SGD May Rise Further Based on Technical Charts

Discover analysis suggesting USD/SGD might see an increase as long as 1.3390 holds. Dive into the details and chart predictions.

USD/SGD is projected to see a potential upward trend according to recent technical chart analysis. Quek Ser Leang, a markets strategist at UOB's Global Economics, foresees a further rise in the USD/SGD exchange rate as long as it remains above the crucial level of 1.3390. This analysis is based on the underlying patterns and signals observed in the market data.

In a different context, a recent Ichimoku cloud analysis reveals that GBP/USD has stabilized beneath the lower boundary of a descending channel. This indicates a specific trend direction for this particular currency pair, hinting at potential trading opportunities for investors.

Additionally, Murrey math lines analysis highlights the status of AUD/USD, with quotes currently below the 200-day Moving Average on the H4 chart. This signifies a prevailing downtrend in this currency pair, urging traders to consider potential bearish positions.

In conclusion, the USD/SGD pair shows promise for a continued uptrend, while other currency pairs like GBP/USD and AUD/USD exhibit distinct trend patterns that necessitate close monitoring for strategic trading decisions.