USD/SGD: Rebound is over? – OCBC

Market news

4 September 2024

USD/SGD: Rebound is over? – OCBC

USD/SGD rebounded to near 1.31 overnight before partially erasing the move, OCBC FX strategists Frances Cheung and Christopher Wong note.

Rebound may have stalled for now

“Pair was last at 1.3070 levels. Daily momentum turned is bullish while RSI is flat. Rebound may have stalled for now.”

“Resistance at 1.3110 (21 DMA), 1.3160 levels (23.6% fibo retracement of 2024 high to low). Support at 1.3050, 1.30 (recent low). S$NEER was last estimated at ~1.87% above our model-implied mid.”

USD/CAD consolidates near 1.3550 ahead of BoC's monetary policy decision

Turkey: Inflation data for August – Commerzbank

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.