Singapore Dollar: Range trade against US Dollar with MAS in focus – OCBC

OCBC strategists Sim Moh Siong and Christopher Wong observe USD/SGD consolidating near recent highs, with bullish daily momentum showing signs of fading and RSI near overbought. They expect consolidation and look to fade rallies, citing resistance around 1.2820–1.2840 and support near 1.2740–1.2720. The pair should track the US Dollar and US yields, with attention turning to the upcoming Monetary Authority of Singapore (MAS) policy decision.

Singapore Dollar in consolidation phase

"USD/SGD traded in subdued range near recent highs. Last at 1.2790 levels."

"Bullish momentum on daily chart intact but shows tentative signs of fading while RSI is near overbought conditions. Consolidation likely, as we keep a look out for rallies to fade into."

"Resistance at 1.2820 (100 DMA), 1.2840 (38.2% fibo). Support at 1.2740 (61.8% fibo retracement of 2026 low to high), 1.2720 (21 DMA)."

"Pair should continue to take cues from USD, US Treasury yields for now with focus gradually shifting to MAS policy decision (no later than 14 Oct). "

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)