In recent trading the pair has found support at 1.30043. Currently the bullish target is 1.30516; if there is a break lower through support the 38.2% line becomes the target.
EUR/USD M15" title="EUR/USD M15" width="537" height="457">
USD/CNH testing resistance from 200 hour moving average
The Hong Kong Monetary Authority added CNH denominated government bonds to it’s list of products it requires banks to hold deposits in. Analysts are saying it appears that policy makers are sending signals that they want to grow the CNH market.
From an hourly perspective, the pair is testing resistance from the 200 hour moving average. If it holds, we look lower to possible support at 6.29676; 6.30620 to the topside.
USDHKD Hourly
The USDHKD hourly chart below shows the pair could retest the short-term trendline resistance and the 100hr mavg in short order despite the holiday week in the far east.
USD/HKD H1" title="USD/HKD H1" width="545" height="439">
USDSGD Daily
The USDSGD pair is hovering around the 61.8% retracement. The USD sell off to start the new year could be short-lived and the pair could rally back to what was trendline support. A break lower quickly brings the 200day mavg in play.
USD/SGD" title="USD/SGD" width="552" height="384">
USD/SGD looking to rebound
The dollar looks like the dollar is trying to re-gain strength after giving up group across the board during the New York trading day. In the case of the dollar versus the SGD, the pair is trading off the low of 1.26528. We see there is a downward channel developing since last week; a close above the resistance line could signal further bullish trading in which case we look to the 100 hour moving average as the first target with the 38.2% as the next. If resistance holds, we look back to the 0.0% line.
USD/SGD H1" title="USD/SGD H1" width="542" height="443">
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EUR/USD Support @ 1.30043
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