OCBC notes that the USDSGD rate is volatile and within a narrow range, closely monitoring movements in USD, Oil and UST yields. The bank sees the delicate bullish momentum starting to fade and maintains a bullish bias, with key support around 1.2720/60 and 1.2650/70 and resistance near 1.2840/50. S$NEER remains comfortably above the average suggested by the model.
Singapore dollar supported by growth
“USD/SGD trading was volatile on a limited basis, tracking movements in USD, oil and UST yields.”
“The pair was last at around 1.2780.”
“The mild increase in momentum on the daily chart shows early signs of weakening while the RSI declines.”
“Bilateral trades are still likely, although the bias is favorable to growth.”
“Support area at 1.2720/60 levels (21,100 DMA, 61.8% 2026 Fibo low-to-high retracement) ahead of 1.2650/70 levels (76.4% Fibo).”
Resistance at levels 1.2840/50 (23.6% fibo, 200DMA). S$NEER remained 1.85% above the average suggested by the model.
(This article was created with the facilitate of an artificial intelligence tool and has been reviewed by an editor.)
