We are focusing on Asian currencies today. The Asia Dollar Index closed below its 200-day average for the first time in over a year, and several currencies in the region risk further bearish, corrective price action against the USD. We highlight various support areas and trigger points at which this theme is likely to persist.
USD/SGD is one of the more notable charts, as the completion of the Double Bottom highlighted earlier this week marks a stark change in persistent bearish behaviour seen for over a year. A benchmark to monitor in this currency pair is the 200-day average at 1.25 which provides near-term resistance as US equity markets stabilise in the near term.
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http://www.easyforexnews.net/wp-content/uploads/2011/09/GLOBAL_TW_102788002.pdf
BARCLAYS CAPITAL
TECHNICAL RESEARCH