USD/SGD: Price pattern resembles a rising wedge – OCBC

FXStreetJan 31, 2025 11:34 AM

View all comments（0）



USD/SGD was a touch firmer as Trump’s tariff threats ahead of 1 Feb deadline undermined sentiments. Pair was last seen at 1.3540, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Bearish momentum seems to be fading

"Bearish momentum shows signs of fading while RSI rose. Rebound risks likely but price pattern resembles a rising wedge (which can be associated with a bearish reversal). Resistance here around 1.3520/40 levels (50 DMA, 23.6% fibo retracement of Sep low to Jan high), 1.36 (21 DMA). Support at 1.3480, 1.3440 levels."

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

Jensen Huang Endorsement, Marvell Technology to Become Next Trillion-Dollar Chip Stock.

TradingKey - During the Asian trading session on June 2, Marvell Technology (MRVL.US) surged in U.S. overnight trading, with gains once exceeding 12%. In terms of market capitalization, Marvell Technology's current market value is approximately $181 billion, still a significant distance from the trillion-dollar milestone.

SK Hynix Cheongju Plant Fire Injures 7, Production Not Interrupted, Shares Fall Over 4% in Early Trading

TradingKey - A fire broke out at South Korean semiconductor giant SK Hynix's core chip manufacturing facility at Campus 4 in Cheongju, North Chungcheong Province, at approximately 10:32 AM local time on June 1, accompanied by a minor leakage of hydrofluoric acid. The fire originated on the 6th floor of a gas room connecting the M15 and M15X production facilities and was quickly brought under control after the automatic sprinkler system was activated.

South Korea Stock Market Value Surpasses India, Rises to Sixth Globally, Chip Giants Lead Strongly

TradingKey - During the Asian trading session on June 2, led by the continued gains of chip giants SK Hynix and Samsung Electronics, the total market capitalization of South Korean listed companies surpassed the $5 trillion mark, officially overtaking India’s $4.8 trillion to become the world’s sixth-largest stock market for the first time since 2003.

Jensen Huang GTC Taipei 2026 Keynote: AI Enters Agentic Era, Vera Rubin Platform and Two New Chips Unveiled

TradingKey - Nvidia (NVDA) CEO Jensen Huang delivered a keynote speech at the GTC Taipei 2026 conference. He stated that AI is evolving from Generative AI into a new phase of Agentic AI. During the event, he also unveiled the Vera Rubin AI computing platform, the first standalone data center CPU "Vera," and the RTX Spark chip, marking the company’s expansion into the AI PC market.

Samsung Electronics Rises Nearly 10% to New High, Overtaking Micron to Top Automotive Memory Market

TradingKey - During the Asian trading session on June 1, Samsung Electronics surged over 9.6% intraday to 347,500 KRW, hitting a record high. The stock's year-to-date gain has expanded to 189%, driving the Korea Composite Stock Price Index (KOSPI) up by more than 4.5% to break above 8,860 points, also marking a new record high.

Featured Tools