USD/SGD fell. The pair was last at 1.3030 levels, OCBC FX Strategists Frances Cheung and Christopher Wong noted.
Consolidation is likely as markets await US jobs data.
“Daily momentum is slightly bullish while RSI fell. Consolidation is likely as markets await US jobs data. A lower figure could lead markets to further price in a 50bp cut by the Fed at the next FOMC meeting.”
“That could translate into USD weakness. Support at 1.30 (recent low). Resistance at 1.31 (21-DMA), 1.3160 levels (23.6% Fibonacci retracement of 2024 high to low). S$NEER was last estimated at ~1.89% above our model-implied midpoint.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
