- Analytics
- News and Tools
- Market News
- USD/SGD: Heavy bias – OCBC
USD/SGD: Heavy bias – OCBC
USD/SGD resumed its move lower, taking cues from softer UST yields, USD overnight, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
Mild bullish momentum on daily chart fades
“Mild bullish momentum on daily chart faded while RSI fell. Consolidation likely at lower levels. Support at 1.2953 (recent low). Resistance at 1.3065 (21-DMA), 1.3160 levels (23.6% fibo retracement of 2024 high to low).”
“S$NEER was last estimated at ~1.89% above our model-implied mid, with model implied spot lower bound at 1.2979. With S$NEER close to its strong end of its band, the room for further downside in USDSGD will continue to be restrained intra-day unless broader USD takes another leg lower, then the implied lower bound of USD/SGD can shift lower.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
