UOB’s Quek Ser Leang and Lee Sue Ann count on USD/SGD to edge decrease and check 1.2760 within the close to time period, although a sustained break under that stage is unlikely. They preserve a 1–3 week range-trading view between 1.2730 and 1.2820, with main assist at 1.2730 seen as intact.
Greenback-Singapore Greenback stays vary sure
“24-HOUR VIEW: Whereas we anticipated USD to edge decrease and check 1.2760 final Friday, we acknowledged that “a continued decline under this stage is unlikely.” We added, “resistance is at 1.2795; a breach of 1.2805 would point out that the present delicate downward strain has eased.” Nevertheless, USD traded in a comparatively quiet method between 1.2776 and 1.2805. USD closed at 1.2804 (+0.20%) however dropped on the open right now. There was a slight enhance in downward momentum, and we proceed to count on USD to edge decrease and check 1.2760. Based mostly on the present momentum, a continued drop under this stage stays unlikely. We don’t count on the foremost assist at 1.2730 to come back beneath risk. On the upside, a break above 1.2800 (minor resistance is at 1.2790) would point out that USD is prone to range-trade as an alternative of edging decrease.”
“1-3 WEEKS VIEW: We highlighted final Thursday (21 Might, spot at 1.2780) USD “has doubtless entered a range-trading section,” and we anticipated it to “commerce between 1.2730 and 1.2820.” We proceed to carry the identical view.”
(This text was created with the assistance of an Synthetic Intelligence software and reviewed by an editor.)
