United Overseas Bank (UOB) remains cautious on USD/SGD after the pair fell to 1.2682 on Friday before ending near 1.2700, closing 0.19% lower at 1.2699. In the next 24 hours, the bank sees range trading rather than an extension of the drop, with spot expected to stay between 1.2680 and 1.2715, following the earlier break below 1.2700.
Short-Term Outlook And Trading Range
In the next 24 hours, the bank sees range trading rather than an extension of the drop, with spot expected to stay between 1.2680 and 1.2715, following the earlier break below 1.2700.
Medium-Term Downside Bias And Key Levels
Over the next one to three weeks, UOB keeps a downside bias and continues to watch 1.2670 as the next level. Rebounds are expected to be capped by resistance at 1.2750, which was previously marked at 1.2760, and the negative view is maintained provided that ceiling is not breached. The bank also flags oversold conditions as a factor that could slow the pace of any further decline.
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