Singapore Dollar: Buy dips against dollar in choppy range – OCBC

OCBC notes USDSGD is trading choppily in a subdued range, closely tracking moves in the USD, Oil and UST yields. The bank sees mild bullish momentum starting to fade and maintains a bias to sell rallies, with key support around 1.2720/60 and 1.2650/70 and resistance near 1.2840/50. The S$NEER remains comfortably above its model-implied mid.

Singapore Dollar supported on rallies

"USD/SGD traded choppy in subdued range, tracking the moves in USD, oil and UST yields."

"Pair was last around 1.2780 levels."

"Mild bullish momentum on daily chart shows early signs of it fading while RSI eased."

"2-way trades still likely though bias remains to sell rallies."

"Area of support at 1.2720/60 levels (21, 100 DMAs, 61.8% fibo retracement of 2026 low to high) before 1.2650/70 levels (76.4% fibo)."

Resistance at 1.2840/50 levels (23.6% fibo, 200DMA). S$NEER last at 1.85% above model-implied mid.

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