Singapore Dollar: Upside risk stays intact against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann maintain a cautious stance on USD/SGD after Friday’s drop to 1.2682 and close near 1.2700.
UOB analysts Quek Ser Leang and Lee Sue Ann maintain a cautious outlook on USD/SGD after Friday's drop to 1.2682, with the pair expected to remain between 1.2680 and 1.2715 in the short term. Over the coming weeks, the bias remains downward toward 1.2670, assuming resistance at 1.2750 hinders rebounds. The 24-hour analysis reveals that despite USD declining to a low of 1.2682, there has been no significant increase in downward momentum, suggesting a possible range trade in 1.2680/1.2715.
UOB's long-term stance remains negative on USD, with a focus on monitoring the 1.2670 level as long as 1.2750 resistance is not breached.
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