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
It’s a big day for the UK and the pound. Chancellor Rachel Reeves is expected to deliver her budget address at 12.30 GMT.
While Texas advances its Bitcoin initiatives, discussions about potentially including Ethereum are underway, contingent on market performance.
Bitcoin Price Rebound Gains Traction with $90K Break in SightBitcoin is trading above $87,000 and its 100-hour SMA after rebounding from $83,500, with a bearish trend line at $88,200 and resistance at $89,000–$90,000 now in focus as BTC either breaks higher toward $91,750–$94,000 or slips back toward $86,700, $85,000 and lower supports.
Bitcoin is trading above $87,000 and its 100-hour SMA after rebounding from $83,500, with a bearish trend line at $88,200 and resistance at $89,000–$90,000 now in focus as BTC either breaks higher toward $91,750–$94,000 or slips back toward $86,700, $85,000 and lower supports.
The NZD/USD pair climbs to near 0.5665 during the early Asian session on Wednesday. The New Zealand Dollar (NZD) strengthens against the US Dollar (USD) following the Reserve Bank of New Zealand (RBNZ) interest rate decision.
Fed Officials Speak Out in Force to Back Rate Cut! December Cut Now a Done Deal? Will the FOMC Meeting Be Delayed?TradingKey - San Francisco Federal Reserve President Mary Daly has voiced support for a rate cut at next month's meeting, citing the greater likelihood and harder-to-manage risk of a sudden deteriorat
TradingKey - San Francisco Federal Reserve President Mary Daly has voiced support for a rate cut at next month's meeting, citing the greater likelihood and harder-to-manage risk of a sudden deteriorat
