Analysts maintain a bearish bias for the pair, targeting 1.2670 if resistance at 1.2750 holds in coming weeks.
United Overseas Bank analysts expect USD/SGD to trade within a narrow range of 1.2680 to 1.2715 in the near term after Friday’s drop to 1.2682. The pair closed 0.19% lower at 1.2699, with no significant increase in downward momentum yet observed.
The bank has maintained a negative outlook on USD since early August, citing oversold conditions that may slow further declines. The next key support level is identified at 1.2670, provided resistance at 1.2750 remains intact. The previous strong resistance level was adjusted from 1.2760.
Downside bias persists as long as the pair does not breach the 1.2750 resistance, reinforcing expectations for a gradual decline in the coming weeks.