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USD/SGD seen trading in wider 1.2680 to 1.2780 band
UOB expects dips to hold above 1.2695 and flags resistance near 1.2725 to 1.2735 as volatility rises after the prior spike.
United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann said USD/SGD has retreated sharply after last week’s spike, but downside momentum appears limited. They expect the pair to stay within a broader 1.2680 to 1.2780 trading range in the coming weeks.
In their view, intraday pullbacks are likely to hold above 1.2695, with resistance levels seen at 1.2725 and 1.2735. They also cite an elevated S$NEER, which they say points to a 1.2676 to 1.2740 trading range.
FXStreet summarized the bank’s outlook, noting that after USD’s sharp move up to 1.2754 last Friday and a subsequent drop to around 1.2710, the outlook remains neutral for now. The analysts link the shift to wider range trading rather than a clear breakdown signal.
Looking over the next one to three weeks, they revised their stance from negative to neutral and expect USD to trade between 1.2705 and 1.2780, even as volatility increases.