• USD/SGD hammered to 1.2720, extending opening losses

• Risks falling into Bollinger downtrend channel at 1.2716

• Wed close below will set off bearish momentum trigger

• From there, 1.2700 psych barrier will likely cave in soon

• Follows sudden dive by USD/JPY on suspected intervention

• USD/JPY collapses 1.3% to 155.80 from 157.90 opening
SGD


(Ewen Chew is a Reuters market analyst. The views expressed are his own.)