USD/SGD: Tracking USD movements – OCBC
Source Fxstreet
USD/SGD fell, tracking broader moves in the USD. USD/SGD fell; last seen trading at 1.3428, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Consolidation likely with some rebound risks
"In the interim, no immediate tariff is supportive of risk sentiments while also taming USD bulls. But tariff concerns remain, and this could still keep risk appetite restrained, thereby implying that USD dips may still find support."
"Daily momentum remains bearish while RSI shows signs of turning higher from near oversold conditions. Consolidation likely with some rebound risks. Resistance at 1.3520/40 levels (50 DMA, 23.6% fibo retracement of Sep low to Jan high), 1.3630 (21 DMA)."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Gold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
Gold price snapped two days of losses on Thursday and rose $50, or more than 1.50%, amid renewed concerns about the US-China trade war.
Gold price (XAU/USD) struggles to capitalize on the previous day's move higher and oscillates in a narrow trading band during the Asian session on Friday amid mixed fundamental cues.
Gold price is on the back foot on Friday, almost erasing all of Thursday’s gains, and looks set to close off this week in the red.
Related Instrument
