OCBC notes that USDGD is trading slow, closely tracking fluctuations in USD, oil and UST yields. The bank sees mild bullish momentum fading and maintains a sell bias for rallies with key support around 1.2720/60 and 1.2650/70 and resistance near 1.2840/50. S$NEER remains comfortably above its model-implied median.
Singapore dollar gets support from rallies
“USD/SGD traded sluggish tracking movements in USD, oil and UST yields.”
“The pair was around the 1.2780 level.”
“Light bullish momentum on the daily charts shows early signs of slowing down while the RSI has turned down.”
“Two-way trading is still possible, although the bias towards selling rallies remains.”
“Support zone at 1.2720/60 level (21,100 DMA, 61.8% Fibo retracement of 2026) before 1.2650/70 level (76.4% Fibo).”
Resistance at 1.2840/50 level (23.6% Fibo, 200DMA). S$NEER is 1.85% above the model-implied median.
(This article was created with the help of an artificial intelligence tool and reviewed by an editor.)
