The US Dollar keeps strengthening versus the Singaporean Dollar.

The Singaporean Dollar has been affected recently by the fundamental data out of China, along with most of the Asian currencies and also the Asian stock markets. That is why we are seeing that the USD/SGD is staying in an uptrend and it has reached a key support/resistance level around the 1.12575. A little bit above this key level we have another great zone of resistance at the 1.2600 level, where we can also see the 200 period Exponential Moving Average and the 55 period Exponential Moving Average on the daily chart below. This confluence of moving averages plus the fact that they are almost exactly at the 1.2600 level, makes this area a great zone to consider a short entry from there. Let us wait patiently and see if the pair does visit that level.