USD/SGD: Price pattern resembles a rising wedge – OCBC

Noticias del mercado

31 enero 2025

USD/SGD: Price pattern resembles a rising wedge – OCBC

USD/SGD was a touch firmer as Trump’s tariff threats ahead of 1 Feb deadline undermined sentiments. Pair was last seen at 1.3540, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Bearish momentum seems to be fading

"Bearish momentum shows signs of fading while RSI rose. Rebound risks likely but price pattern resembles a rising wedge (which can be associated with a bearish reversal). Resistance here around 1.3520/40 levels (50 DMA, 23.6% fibo retracement of Sep low to Jan high), 1.36 (21 DMA). Support at 1.3480, 1.3440 levels."

South Africa Trade Balance (in Rands) dipped from previous 34.7B to 15.46B in December

India Infrastructure Output (YoY) down to 4% in December from previous 4.3%

Enfoque del mercado

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