United Overseas Bank’s (UOB) Quek Ser Leang reports that the USD/SGD currency pair has seen a slowdown in downward momentum following a sharp drop last week, with the pair closing largely unchanged at 1.2919 (+0.02%) after reaching a low of 1.2896 [1]. UOB expects the USD/SGD to trade within a narrow intraday range of 1.2900 to 1.2935, noting that a clear break below the major support at 1.2890 is unlikely, and resistance is set at 1.2935, with a breach of 1.2950 indicating stabilization of the recent decline [1].
On a 1–3 week horizon, UOB maintains a neutral stance, projecting continued consolidation within a slightly revised range of 1.2890–1.2990. The recent dip toward the lower end of this range does not signal a sustained decline, and the bank expects range-trading to persist for the time being [1].
Looking further ahead, UOB highlights that strong weekly momentum still favors additional USD/SGD strength, with potential targets at 1.3000 and 1.3095, suggesting a possible upward bias in the longer term [1]. No specific market reactions or analyst opinions beyond UOB’s technical outlook are discussed in the article [1].
CONCLUSION
The USD/SGD pair is expected to remain in a tight trading range in the short term, with UOB maintaining a neutral outlook and projecting consolidation between 1.2890 and 1.2990. Longer-term momentum suggests potential for further USD strength, but immediate market impact is low as traders await clearer directional signals.