USD/SGD fell. Pair was final at 1.3030 ranges, OCBC FX strategists Frances Cheung and Christopher Wong observe.
Consolidation seemingly as markets await US jobs information
“Each day momentum is gentle bullish whereas RSI fell. Consolidation seemingly as markets await US jobs information. Softer print might result in markets additional pricing in 50bp reduce for the Fed at upcoming FOMC.”
“That will translate into USD softness. Assist at 1.30 (latest low). Resistance at 1.31 (21 DMA), 1.3160 ranges (23.6% fibo retracement of 2024 excessive to low). S$NEER was final estimated at ~1.89% above our model-implied mid.”
