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The USD/SGD pair is trading at 1.3563 at the time of writing. As you can see on the H1 chart, the rate failed to develop a larger downside movement and has come back towards the 1.3562 former high representing an upside obstacle. Staying near the upside obstacle indicates strong buying pressure and an imminent breakout.
Testing and retesting 1.3562 and staying below this level may announce a new downside movement.
Passing and stabilizing above 1.3562 confirms further growth and may represent a buying opportunity.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
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