The US Dollar is trading at an important resistance area against the Singapore Dollar at 1.3550. With growing concerns about inflation in the US, the market has been anticipating a possible slowdown in the financial stimulus maintained by the US central bank, as well as an increase in the interest rate in the medium term. This situation has made the dollar appreciate over the past few days.
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From a technical point of view, the price has been moving in a sideways lateralization and if the price manages to break above the resistance at 1.3550, there is a good chance that the price will reach the levels of 1.3700 and 1.3780 next. This Friday, the most important macroeconomic events are the Trade Balance (for the SGD) and Retail Sales for the US dollar.
