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USD/SGD seen range-bound, with mild downward pressure easing

UOB expects USD to trade mostly between 1.2905 and 1.2940 today, while looking for a wider 1.2890 to 1.2990 band over the next one to three weeks.

Reported · Written up by our desk · Major Pairs

UOB’s Quek Ser Leang said USD/SGD is trading in a range, with no fresh directional clues from recent price action. In the near term, the bank expects intraday movement between 1.2905 and 1.2940.

For the next one to three weeks, UOB sees mild downward pressure that has eased, with the pair likely to remain within a broader 1.2890 to 1.2990 range.

Looking further out over a one to three month horizon, a break above 1.3000 could push USD/SGD toward 1.3095.

FXStreet also noted that USD has been quiet, trading in a tight span between 1.2914 and 1.2938, and that it is more likely to trade in a higher range of 1.2920 to 1.2960.

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