Singapore Dollar: Range-bound trade signals consolidation against US Dollar – UOB

FXStreet Insights Team FXStreet

UOB’s Quek Ser Leang notes USD/SGD is consolidating after Monday’s dip, with intraday momentum flat and the pair expected to hold a narrow 1.2925–1.2955 band. On a 1–3 week horizon, the bank keeps a neutral stance, projecting a broader 1.2870–1.2970 range. Longer term, a break above 1.3000 could target the November 2025 high at 1.3095.

Dollar-Singapore Dollar holds tight range

"24-HOUR VIEW: USD fell to a low of 1.2922 on Monday. When it was at 1.2930 yesterday, we highlighted that “the decline did not result in any clear increase in downward momentum, and instead of continuing to decline today, USD is more likely to trade in a range between 1.2920 and 1.2950.” We were not wrong, as USD subsequently traded within a range of 1.2924/1.2952, closing largely unchanged at 1.2930 (+0.03%). Momentum indicators are mostly flat, and today, we expect USD to trade between 1.2925 and 1.2955"

"1-3 WEEKS VIEW: Yesterday (30 Jun, spot at 1.2930), we revised our USD view from positive to neutral. We highlighted that “upward momentum has faded,” and we indicated that “for the time being, USD is likely to trade in a range between 1.2870 and 1.2970.” There is no change in our view."

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

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FXStreet Insights Team

FXStreet

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