Analysts forecast a trading range of 1.2756–1.2820 for USD/SGD as the Singapore dollar remains 1.5–2.0% above its NEER midpoint.
USD/SGD traded narrowly on Wednesday, closing at 1.2810 after fluctuating between 1.2804 and 1.2825. UOB’s Nominal Effective Exchange Rate model indicates the SGD will stay 1.5–2.0% above its mid-point, capping the pair’s upside near term.
Recent sessions saw USD test support at 1.2790 but fail to sustain a break lower. Momentum indicators remain flat, suggesting rangebound conditions. Resistance levels are pegged at 1.2820 and 1.2830, with downside risk persisting unless a clear break below 1.2790 occurs.
The pair’s tone has softened slightly, though downward momentum lacks strength. Analysts expect modest declines but no significant move below 1.2790 in the near term.