USD/SGD: Two-way trade with sell-on-rally bias – OCBC

FXStreetMay 4, 2026 8:14 PM

View all comments（0）



OCBC strategists Sim Moh Siong and Christopher Wong report that USD/SGD fell into the New York close, helped by a sharp Brent decline and a pullback in USD/JPY, easing immediate inflation and yield concerns. They stress that the move looks more like relief than reversal, keeps a bias to sell rallies, and highlight support at 1.2720/1.2680 and resistance around 1.2760/1.2770 and 1.2850.

Relief-driven dip but not full reversal

"USD/SGD fell into Fri NY close, consistent with our call to sell rallies."

"Nevertheless, the move lower should be seen more as a relief than a full reversal."

"Geopolitical headlines remain fluid, and any renewed spike in oil price could quickly revive concerns over inflation, growth and broader risk sentiment."

"Markets are expected to keep a close eye on US-Iran developments (for implications on oil prices and sentiment) and if USD/JPY’s decline has more room to run."

"Pair was last at 1.2730 levels. Daily momentum and RSI indicators are not showing a clear bias for now. 2-way trades likely in the interim; bias remains to sell rallies"

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

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

SpaceX Stock Price Forecast: Morgan Stanley Says Lock-Up Expiration Is Entry Opportunity, Price Could Hit $140?

On August 7 (ET), SpaceX (SPCX) broke through a periodic high of $126.71. This followed the official unlocking of the first batch of 911.5 million insider restricted shares on August 6, representing a potential release of approximately $100 billion in market value. However, the sell-off that the mar

Gold Price Forecast: Can Gold Still Rise Above $4,300 Ahead of July Non-Farm Payrolls?

TradingKey - As of the European session on August 7, gold prices (XAUUSD) extended their recent strong performance, rising more than 1% intraday and briefly surpassing the $4,300 mark. With a cumulative weekly gain of over 6%, gold is on track to record its largest single-week increase since January. As the market awaits the release of U.S. July non-farm payroll data, investors are re-evaluating whether a Federal Reserve rate hike in September remains necessary, placing gold in a critical phase for its next near-term directional move.

SpaceX Stock Price Prediction: Shares Rise 6% on $100 Billion Unlock Day; Has SPCX Slump Ended?

TradingKey - As of August 6, Eastern Time, SpaceX (SPCX) shares rose 6.14% to close at $114.92. Notably, approximately 911.5 million SpaceX shares were unlocked on that day, becoming available for trade with a total value exceeding $100 billion. Although there were widespread market concerns that ma

Cloudflare Q2 2026 Earnings Preview: NET at a Record High, Can a Beat Justify It?

Cloudflare reports Q2 after the close Aug 6. A beat is expected (~$665M, $0.27 EPS), but with NET at a record ~$300 above most price targets, guidance is what matters.

July Nonfarm Payrolls Preview: Job Growth May Remain Low; How Will US Stocks, Dollar, and Gold React?

TradingKey - The U.S. Bureau of Labor Statistics will release the July non-farm payrolls report at 8:30 AM ET on August 7. Current market focus is centered not only on employment growth but also on the unemployment rate, average hourly earnings, and whether data from the previous two months will be revised downward again. These indicators will directly impact Federal Reserve rate hike expectations for September, as well as the trajectory of U.S. stocks, the U.S. Dollar, and gold (XAUUSD).

Featured Tools