USD/SGD Near-Term Support Test at 1.2890 – UOB
UOB's Quek Ser Leang says USD/SGD's sharp drop toward 1.2900 appears overdone but the pair could still test support near 1.2890 in the near term, maintaining a range bias.
USDSGD
UOB FX strategist Quek Ser Leang commented on the Singapore dollar pair against the US dollar, noting that the recent sharp decline in USD/SGD to around 1.2900 may be overextended. However, he sees potential for a further test of support at the 1.2890 level in the short term.
The analyst maintains a range-bias view for the pair, with key levels defining the near-term trading band. The move lower has been significant, but the overdone nature suggests a possible stabilization or rebound after the support test.
Source: FXStreet Forex News