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USD/SGD steadies near 1.28 as bearish momentum shows signs of easing

OCBC analysts flag potential resistance at 1.2830 to 1.2840 and support around 1.2770, with near term direction tied to US CPI and PPI.

Reported · Written up by our desk · Major Pairs

OCBC analysts Sim Moh Siong and Christopher Wong assessed USD/SGD after the pair’s post-payroll dip, noting it last traded near 1.28 and that bearish momentum appears to be waning.

They said the technical setup suggests rebound risks in the near term, pointing to resistance near 1.2830 to 1.2840 and again around 1.2870 to 1.2890, while support is seen around 1.2770 and 1.2740.

The analysts added that follow through likely depends on broader USD moves and USD/CNY, as well as upcoming US data releases this week including CPI and PPI, with retail sales also in focus.

FXStreet reported the outlook as traders weigh these catalysts for the pair’s next move.

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