UOB analysts see upward momentum for the pair but warn gains may stall at a resistance zone between 1.2880 and 1.2900.
USD/SGD has rebounded from a recent low near 1.2660, with momentum building for further gains. The pair remains supported above 1.2735, though a break below this level could weaken the outlook.
A significant resistance zone between 1.2880 and 1.2900, including a declining trendline and the 55-week EMA, may cap upside unless breached. The pair tested this zone in late March but retreated after hitting 1.2930.
Analysts note that a move above 1.2900 would increase the likelihood of further strength toward 1.2930. Major support remains at 1.2660, with the weekly MACD turning positive after a brief dip.