Singapore Dollar: Upside risk stays in focus against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD rebounded after a sharper-than-expected drop to 1.2752, easing immediate downside pressure and pointing to intraday consolidation between 1.2760 and 1.2795.
United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann highlight the potential upside risk to the Singapore Dollar against the US Dollar. After a sharper-than-expected drop to 1.2752, the USD/SGD pair rebounded, indicating intraday consolidation between 1.2760 and 1.2795. Despite this, the short-term outlook still favors a potential decline in the US Dollar, with the risk for USD remaining on the downside.
The resistance level is capped near 1.2810 while the downside risk could push the pair toward 1.2740. The immediate downside pressure has eased with the recovery, and USD is likely to stay within the 1.2760/1.2795 range for the day.
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