USD/SGD intraday bias remains lower, upside capped – UOB
USD/SGD slipped to 1.2809 and closed near 1.2821, with UOB analyst Quek Ser Leang noting the intraday bias still points lower, indicating the pair’s upside is capped.
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Quek Ser Leang, an analyst at United Overseas Bank, noted that USD/SGD edged down to a low of 1.2809 before closing around 1.2821. The intraday bias remains tilted to the downside, suggesting that any rebound in the pair is likely to be limited.
With the short-term momentum still pointing lower, upside attempts are expected to encounter resistance. The analyst’s comment implies that the pair may continue to drift lower in the near term, and the immediate upside appears capped.
Source: FXStreet Forex News