Singapore Dollar: Gains momentum against US Dollar – OCBC | FXStreet
The Singapore dollar has steadied as the US dollar paused after softer-than-expected data on core inflation. In the latest read, USD/SGD eased to around 1.2960 as the greenback’s upside momentum cooled following the core PCE Price Index release. The longer-term trend remains bullish on the daily chart, but the Relative Strength Index is retreating from overbought territory, leaving traders watching to see if the pullback gains traction or if dip-buying returns.
Traders caution that quarter-end and month-end flows could distort price action, adding an extra layer of complexity to near-term moves.
Key levels to watch include:
- Support: 1.2940
- 1.29 (61.8% fib retracement of the move from December’s high to the 2026 low)
- 1.2840/50 region (200-day moving average, 50% fib retracement)
- Resistance: 1.2980 (76.4% fib retracement)
- 1.3030 as an additional upside target
Market participants will likely stay alert to the pace of the dollar’s correction and any incoming data that could tilt the balance. For now, the immediate focus is on whether price can sustain a upside push beyond near-term resistance or if the dip-buying momentum re-emerges and supports a renewed rally, all amid ongoing considerations of liquidity dynamics as month-end approaches.
