Home›Forex›Major Pairs›USD/SGD seen range-bound as momentum cools, UOB says

USD/SGD seen range-bound as momentum cools, UOB says

UOB expects the pair to trade about 1.2890 to 1.2990 over the next 1 to 3 weeks, with a move above 1.3000 opening potential strength toward 1.3095.

Reported · Written up by our desk · Major Pairs

FXStreet cited United Overseas Bank commentary from Quek Ser Leang saying the USD/SGD rebound lacks enough follow through to signal a sustained rise, with the mild downward pressure easing and the pair expected to stay range-bound.

In the intraday view, the Dollar was expected to trade between 1.2920 and 1.2960, following a session peak around 1.2956 and a last quote near 1.2938.

Looking one to three weeks ahead, UOB projected a broader 1.2890 to 1.2990 band, while noting that a break above 1.3000 could extend gains toward 1.3095.

On a 1 to 3 month horizon, UOB’s framework similarly points to the importance of the 1.3000 level for a move out of the current range.

More like this

Sources