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USD/SGD bears remain unobstructed

The hourly ADX(14) has just crossed above 50, emerging from below the 30 levels where it has been seen during the previous market session.

This is a less frequent technical set-up which suggests the USD/SGD pair should be on its way to achieve further lows the days ahead.

Caution is advised on a possible overshoot threat to the falling 200-SMA, now printing above the recent close.

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