USDSGD is testing 1.3450 support which is unbroken since 2018. 1.3450 tested 3 times in 2019 and 2 times in early 2020 but every attempt leads to new uptrends. But this time price may fall from this cliff.
Pacific trade agreement and Trump’s losing of the US election gave a big boost to Asian currencies. With this optimism, USDSGD may break the 1.3450 level.
If price break this important level to downside 1.33 may become the first support level in short to medium term. But 1.3450 holds for some time, we may see a reverse to upper band of trend channel which is currently at 1.3675. As long as price stay within this bearish trend, downward pressures can be expected to continue.
