UOB analysts Quek Ser Leang and Lee Sue Ann report that the USD/SGD currency pair opened stronger after a quiet previous session, with tentative upward momentum observed. Despite this, the pair faces resistance around the 1.2945–1.2955 levels, and it is uncertain whether there is enough momentum for a break above these points in the near term [1]. For the next 1–3 weeks, UOB maintains its view that USD/SGD will trade within a range of 1.2890 to 1.2990, a stance they have held since early this month [1].
In the short term, the analysts note that the USD traded quietly last Thursday, with Friday's price action providing no new clues. On Friday, USD/SGD traded between 1.2896 and 1.2925, closing marginally lower by 0.01% at 1.2920, but opening on a strong note today. Support levels are identified at 1.2920 and 1.2910 [1].
Looking further ahead, UOB suggests that a break above 1.3000 could target the November 2025 high at 1.3095. However, for now, the mild downward pressure observed earlier has eased, and the pair is expected to remain within the established range [1].
No specific market reactions or analyst opinions regarding broader market implications are discussed in the article. The analysis remains technical, focusing on key support and resistance levels and the likelihood of range-bound trading in the near term [1].
CONCLUSION
UOB analysts expect USD/SGD to remain range-bound between 1.2890 and 1.2990 in the coming weeks, with only tentative upward momentum observed. A significant move above 1.3000 could target higher levels, but current market conditions suggest limited volatility. Market impact is expected to be low unless a breakout occurs.