The Singapore Dollar is trading sideways against the US Dollar as momentum stalls following an earlier decline this week, according to UOB strategist Quek Ser Leang. The USD/SGD pair is expected to remain range-bound within a tight 1.2925 to 1.2955 corridor during today’s session, reflecting consolidation after Monday’s downward move. Intraday momentum indicators are showing flat readings, suggesting limited directional conviction among traders in the near term.
Looking beyond the immediate session, UOB maintains a neutral outlook for the one to three week period, forecasting the currency pair will trade within a broader 1.2870 to 1.2970 range. The consolidation pattern indicates neither bulls nor bears have sufficient momentum to drive a decisive breakout, keeping the Singapore Dollar stable against its US counterpart. Traders and brokers focused on Asian FX should prepare for subdued volatility and limited trending opportunities in this pair.
FXnCO Insight
Range traders should watch for bounces off 1.2925 support and 1.2955 resistance, while breakout traders wait for clear moves beyond the 1.2870–1.2970 boundaries before committing capital.
Source: FXStreet