Singapore Dollar: Range trade against US Dollar – UOB

FXStreetJun 22, 2026 3:41 PM

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United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD remains supported around 1.29 as the Singapore Dollar (SGD) Nominal Effective Exchange Rate (S$NEER) trades near the top of its band, implying the pair should hover close to this level. In the short term, they expect consolidation between 1.2900 and 1.2935, while over the coming weeks the pair could push toward 1.2960 if support at 1.2870 holds.

Upside bias while consolidation persists

"24-HOUR VIEW: While we indicated last Friday that USD “could continue to rise,” we highlighted that “negative divergence is forming, and a break above the major resistance at 1.2930 is unlikely.” Upward momentum was stronger than expected, as USD rose to 1.2935 before settling at 1.2922 (+0.13%). There has been a tentative slowdown in momentum, but this is more likely to lead to USD trading in a range at these higher levels rather than a sustained pullback. Expected range for today: 1.2900/1.2935."

"1-3 WEEKS VIEW: Last Thursday (18 Jun, spot at 1.2880), we stated that “the risk for USD has shifted back to the upside,” but we indicated that it “must first surpass the 1.2915/1.2930 resistance zone before a continued rise is likely.” USD broke above the resistance zone on Friday, printing a high of 1.2935. While we would have preferred a more decisive break, the price action suggests that USD could rise toward 1.2960. To keep the momentum going, USD must hold above 1.2870 (‘strong support’ level was at 1.2840 last Friday)."

(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.

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