UOB analysts signal a tentative bearish shift for USD/SGD, noting that a daily close below 1.2775 is required to unlock further downside potential toward the 1.2755 support level.
UOB strategists note USD/SGD closed at 1.2795 (-0.16%) after the US Dollar softened post-US midterm elections, with a tentative build-up in downward momentum. Their intraday bias is mildly lower (support 1.2760) and a daily close below 1.2775 over 1-3 weeks would target the major support at 1.2755, arguing for a weaker pair. However, USD must hold below 1.2815 for downside momentum to sustain, so the bearish view is tentative rather than confirmed.
A daily close below 1.2775 would likely open the way to the major support at 1.2755, while minor intraday support sits at 1.2760.
USD/SGD needs to hold below 1.2815 to sustain downward momentum; a move back above that level would undermine the downside bias.
The USD/SGD pair faces renewed downward pressure, closing at 1.2795 following a softening US Dollar post-midterm elections. UOB strategists suggest that while the current bias is bearish, the pair must maintain levels below 1.2815 to sustain momentum toward the 1.2755 support zone.
A daily close below 1.2775 would likely open the way to the major support at 1.2755, while minor intraday support sits at 1.2760.
USD/SGD needs to hold below 1.2815 to sustain downward momentum; a move back above that level would undermine the downside bias.