USD/SGD: Consolidation likely in the near term – OCBC
Source Fxstreet
USD/SGD continued to trade near recent highs; last seen at 1.3464, OCBC’s FX analysts Frances Cheung and Christopher Wong note.
USD is waiting for a catalyst to move
“Mild bearish momentum on daily chart intact for now while RSI is flat. Consolidation likely in the near term. Resistance at 1.3490, 1.3520 levels. Support at 1.3390 (21 DMA), 1.3340 (200 DMA).”
“US payrolls data on Fri may provide the directional catalyst for USD while we continue to watch CNY fixing. S$NEER was last at 0.93% above model-implied mid. This still shows that SGD remains firmer vs. peers in the trade basket but it is less firm today (vs. than for most of the year).”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Here is what you need to know on Wednesday, June 3:
On June 2, Eastern Time, the cryptocurrency market suffered its most severe wave of concentrated liquidations so far this year. Bitcoin ( BTC) fell below the $70,000 psychological support
West Texas Intermediate (WTI) gains ground for the third successive day, trading around $92.90 per barrel during the Asian hours on Wednesday.
Recently, silver prices ( XAGUSD) have been fluctuating within the $73.60-$78.00 range, impacted by shifting U.S.-Iran tensions. However, as signals emerge of further easing in the situat
Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike betsGold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Gold price (XAU/USD) declines to around $4,485 during the early Asian session on Tuesday. The precious metal loses ground as renewed tensions in the Middle East continue to fuel concerns over inflation and expectations of elevated interest rates.
Related Instrument
