USD/SGD: Rise over? – OCBC
Source Fxstreet
USD/SGD fell, tracking the pullback in USD as Trump trade unwinds. Pair was last at 1.3171, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
USD pulls back as Trump trade unwinds
“Bullish momentum on daily chart faded while RSI eased from near overbought conditions. Support at 1.31 (38.2% fibo), 1.3040 (50 DMA). Resistance at 1.3190 (50% fibo), 1.3290 (61.8% fibo retracement of Jun high to Oct low).”
“S$NEER strengthened; last at 1.62% above model-implied mid.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
The Gold price (XAU/USD) gains momentum to near $3,645 during the early Asian session on Thursday.
With broader sentiment worsening, user demand falling across the Ethereum network, and institutional investors pulling back, the coin faces mounting headwinds in October.
Markets are heading into what traders are calling a “super week” for macro data.
Bitcoin (BTC) price drops below $113,000 at press time on Tuesday, undermining the 4% gains from Sunday.
With the US government shutdown causing key data releases to be postponed, Powell's comments could influence the US Dollar's valuation in the near term.
Related Instrument
