The USD/SGD pair crashed as the Dollar Index extended its sell-off. Fundamentally, the USD took a hit from the US Unemployment Claims indicator which came in at 261K in the last week versus 236K estimated. The Final Wholesale Inventories came in worse than expected as well. Tomorrow, the Canadian economic data should have an impact on the USD.
Technically, the USD/SGD pair reached a major demand zone. False breakdowns below 1.3432 and through 1.3427 support levels may announce that the sell-off ended. A bullish pattern should bring new longs.
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