Singapore Dollar: Resistance caps USD gains – UOB

FXStreet Insights Team FXStreet

United Overseas Bank’s Quek Ser Leang notes that USD/SGD has rebounded from its recent low near 1.2660 and upward momentum is starting to build. The pair is seen as broadly supported above 1.2735, with major support at 1.2660. However, a significant resistance zone at 1.2880–1.2900, including a declining trendline and 55-week EMA, may cap gains unless broken.

Pair supported but resistance looms overhead

"Two weeks ago, USD/SGD tested the 1.2660 level as it dropped to a low of 1.2653. The weekly MACD dipped only slightly into negative territory, but following the strong rebound last week, it has flipped back to positive."

"Upward momentum is starting to build, but while there is scope for USD/SGD to rise further, it is worth noting that there is a significant resistance zone between 1.2880 and 1.2900. The declining trendline connecting the highs of 1.3095 and 1.2930 sits at 1.2880, while the 55-week EMA is currently at 1.2900."

"Note that USD/SGD tested the 55-week EMA in late March, with a high of 1.2930 and then retreated."

"Overall, we expect USD/SGD to remain broadly supported from here, with the major support remaining at 1.2660."

"However, to maintain the current build-up in momentum, USD/SGD should ideally stay above the short-term support at 1.2735. Looking ahead, a break above the resistance zone would significantly increase the likelihood of a move above 1.2930."

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

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD gathers strength above 1.3350, but stays capped below 100-day average

The GBP/USD pair trades in positive territory around 1.3360 during the early European session on Friday. The British Pound gathers strength against the US Dollar on a weaker-than-expected US Nonfarm Payrolls report.

EUR/USD trades cautiously higher near mid-1.1400s amid mixed setup

The EUR/USD pair attracts some dip-buyers during the Asian session on Friday, stalling the previous day's modest pullback from the 1.1470-1.1475 region, or a nearly two-week high. Spot prices currently trade just below mid-1.1400s and seem poised to register gains for the first time in three weeks as receding US Federal Reserve rate hike bets keep the US Dollar depressed.

Gold advances to $4,200 neighborhood amid reduced Fed hike bets

Gold is seen building on this week's recovery move from its lowest level since November 2025 and gaining positive traction for the third straight day. The precious metal advances to the $4,200 neighborhood, or a one-and-a-half-week high, during the Asian session and remains on track to register gains for the first time in five weeks.

Bitcoin and Ethereum rebound as bulls return, XRP targets breakout

Bitcoin, Ethereum and Ripple extend their recovery on Friday as improving risk sentiment and strengthening technical indicators support the broader cryptocurrency market. BTC reclaims the $61,300 level after rebounding from a 21-month low earlier this week, while ETH holds firm near $1,700 following a sharp two-day recovery.

Economics week ahead

Market attention turns to next week's FOMC minutes for any signs of what could shift a divided Committee from a hold toward rate hikes. The dot plot from the last meeting made clear that policymakers are split on whether rate hikes are warranted, but with forward guidance getting tamped down under Chair Warsh, the Fed's reaction function remains uncertain in terms of what exactly would build broader support for more restrictive policy.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.