Singapore Dollar: Bearish bias against US Dollar
United Overseas Banks (UOB) Quek Ser Leang and Lee Sue Ann note USD/SGD surged to 1.2784 and closed at 1.2783, its largest one-day gain in three months, with strong momentum despite overbought conditions. Their Singapore Dollar (SGD) Nominal Effective Exchange Rate (NEER) model suggests USD/SGD should trade between 1.2725 and 1.2785 intraday, while the 1-3 weeks view stays constructive as long as the pair holds above support at 1.2710. Discover more Fintech FINANCE News Dollar strength tests key Singapore levels “24-HOUR VIEW: While we held the view yesterday that USD ”could edge higher,“ we pointed out that ”it remains to be seen if it can break above 1.2755.“ However, during the NY session, USD rallied sharply to 1.2784 before posting its largest one-day gain in three months as it closed at 1.2783 (+0.42%). While strong momentum could outweigh the current deeply overbought conditions, it remains to be seen whether USD can reach 1.2800. Given the overbought conditions, the next resistance at 1.2835 is unlikely to come under threat. Support is at 1.2760; the next support at 1.2740 should hold for now.” “1-3 WEEKS VIEW: Tracking our positive view from last Friday, we highlighted two days ago (15 Sep, spot at 1.2700) that ”the price action suggests that









