Strategists expect the pair to trade between 1.2785 and 1.2815, with a break below 1.2765 needed for further declines.
United Overseas Bank strategists forecast USD/SGD will remain in a tight intraday range after a modest rebound, with support at 1.2785 and resistance at 1.2815. The pair closed 0.17% higher at 1.2807 on Monday, lacking clear upward momentum.
Recent price action suggests downside risk, but a clear break below 1.2765 is required to target 1.2740. Upside remains capped at 1.2840, a level that would signal fading downside pressure. Last Friday, the pair hit a low of 1.2767 before recovering.
No immediate market reaction was noted, as the outlook remains range-bound with cautious bias.