USD/SGD: Tracking USD movements – OCBC

FXStreetJan 27, 2025 11:24 AM

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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)."

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