Forex
Home›Forex›Major Pairs›USD/SGD steadies after dip, range seen below 1.2845
USD/SGD steadies after dip, range seen below 1.2845
UOB expects USD to trade between 1.2805 and 1.2845 near term, while further losses in 1 to 3 weeks hinge on a break and hold below 1.2790.
FXStreet reports that United Overseas Bank analyst Quek Ser Leang says USD/SGD’s recent downside bias has faded after the pair dipped to 1.2790 and then recovered to 1.2827.
According to UOB, the spot price is expected to trade in a near term range of 1.2805 to 1.2845.
Over the next 1 to 3 weeks, FXStreet notes that additional declines are viewed as unlikely unless USD breaks and holds below 1.2790, with 1.2765 flagged as the next level to watch.
FXStreet added that USD last closed little changed at 1.2827, up 0.05% on the day, and that downside risk remains intact while USD stays below the 1.2875 resistance level.