USD/SGD faces short-term downward pressure as the SGD NEER holds above its midpoint, with analysts expecting the pair to remain range-bound unless key resistance levels are breached.
UOB notes USD/SGD slipped overnight with a mild Dollar weakness bias as the SGD NEER holds above its midpoint, keeping the pair range-bound.
The USD/SGD pair retreated overnight as Asian currencies demonstrated resilience. UOB strategists report that the SGD NEER remains firmly above its midpoint, effectively capping upside momentum and keeping the pair within a tight intraday range.
The outlook remains bearish in the short term, with the pair expected to trade within a tight range as the SGD NEER holds above its midpoint.