Is the Singapore Dollar Poised for a Steep Fall Against the US Dollar? OCBC’s Analysis May Shake Your Portfolio!
Ever wondered if a currency pair could catch its breath after a steep dive? Well, USD/SGD is doing just that—trading stubbornly around the 1.28 mark as its bearish momentum loses steam, according to OCBC’s sharp-eyed analysts Sim Moh Siong and Christopher Wong. They’re waving a flag that a technical rebound might just be lurking around the corner, with resistance levels inching up near 1.2830 to 1.2890 and solid support holding tight just below. But here’s the kicker—the pair’s next move isn’t happening in isolation; it’s tethered tightly to the broader dance of the USD, the USD/CNY dynamics, and the all-important upcoming U.S. economic data. So, what’s next for this flirtation with the 1.28 threshold—is this the start of a turnaround, or just a brief pause before the next leg down? The coming days could tell, and you definitely don’t want to blink. LEARN MORE
OCBC analysts Sim Moh Siong and Christopher Wong discuss USD/SGD after its post-payroll decline, noting the pair last traded near 1.28 with bearish momentum starting to wane. They highlight potential technical rebound risks, outlining key resistance around 1.2830/40 and 1.2870/90 and support near 1.2770 and 1.2740. They add that near-term direction will depend on broader USD and USD/CNY moves and upcoming US data.
Analysts flag fading downside momentum
“USD/SGD consolidated overnight after the decline post-payroll on Fri. Last seen at 1.28 levels.”
“Bearish momentum intact but shows signs of waning while RSI shows signs of turning higher from near oversold conditions. Rebound risks not ruled out in the interim.”
“Resistance at 1.2830/40 levels (100, 200 DMAs, 38.2% fibo retracement of 2026 low to high), 1.2870/90 levels (21, 50 DMAs, 23.6% fibo). Support at 1.2770 (recent low), 1.2740 (61.8% fibo).”
“Near term, USD/SGD is likely to take cues from broader moves in USD and USD/CNY. This puts focus on upcoming US data releases this week, including CPI, PPI and to a lesser extent, retail sales.”
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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