By Michael McCarthy, Chief Market Strategist, CMC Markets Australia Fed chair Yellen spoke overnight. In re-iterating the case for a rate lift, she attempted to reverse the unintentional damage done by the signalling components of last weeks’ unchanged rate decision and accompanying statement. Her assurances saw USD strength return, and in the lead up to the speech, and in the hours following, the USD made big figure gains against the EUR and JPY. The problem from a trading point of view is that the USD is essentially tracking sideways against the other two (look them up yourself Larry Loungelizard). There’s little in the way of technical triggers to play USD strength. Flicking through the crosses, there’s a chart that stands out – USD/SGD. The pair is at five year highs (SGD lows). There is a double top formation, respecting big figure resistance at 1.4300. The resistance point coincides with a Bollinger Band touch and reversion. Any one of these three factors might signal a bearish reversal – the combination of the three sets of bells ringing.