The post Singapore Dollar: Short-term losses versus upside risks against US Dollar – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/SGD is edging higher after a period of tight consolidation, with intraday upside seen as limited below nearby resistance. While short-term momentum has turned up, the bank still flags increased risk of a break under 1.2890 on a 1–3 week horizon, even as longer-term weekly signals point to potential strength toward 1.3095. Upward bias capped below resistance “24-HOUR VIEW: While we noted yesterday that “there has been a slight increase in downward momentum,” we pointed out that “this is likely to lead to USD trading in a lower range of 1.2900/1.2935 rather than a sustained decline.” USD then traded between 1.2906 and 1.2934, closing largely unchanged at 1.2929 (+0.04%). This time around, there has been a slight increase in upward momentum. Today, USD could edge higher, but it is unlikely to break above 1.2955.
The post Singapore Dollar: Range bias holds above 1.2890 against US Dollar – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Quek Ser Leang notes that USD/SGD’s mild downward pressure has eased, with the pair expected to stay range-bound. Intraday, the Dollar is seen trading between 1.2920 and 1.2960, while over the next 1–3 weeks UOB projects a broader 1.2890–1.2990 band. On a 1–3 month horizon, a break above 1.3000 could open a move toward 1.3095. Dollar-Singapore Dollar seen range-bound “24-HOUR VIEW: When USD was at 1.2930 in the early Asian session yesterday, we were of the view that it “is likely to edge higher.” However, we pointed out that “it is unlikely to break above 1.2955.” Our view of a higher USD was not wrong, even though USD rose to a high of 1.2956 before easing to close at 1.2938 (+0.07%). The slight increase in upward momentum is insufficient to indicate a continued rise in USD. Today, USD is more likely to trade in a higher range of 1.2920/1.2
The post Singapore Dollar: Upside risks building as USD stays firm – DBS appeared on BitcoinEthereumNews.com.
DBS Group Research economist Eugene Leow warns that shorter-term Singapore Dollar (SGD) rates may face upside pressure despite recent flush liquidity. He notes SGD rates have decoupled from USD rates, with spreads stretched, while Fed hike expectations remain sticky and the USD strong. Leow highlights USD/SGD near 1.30 and Monetary Authority of Singapore (MAS) policy decisions as key factors for SGD rate repricing. Shorter-term SGD rates face upside risks “We continue to be wary about upside to shorter term SGD rates. Over the course of the past six quarters, market participants have gotten used to very flush SGD liquidity and persistent belief in USD weakness keeping frontend SGD rates low.” “In some ways, SGD rates appear decoupled from USD rates and the spread between the two has become even more stretched. There are some hints that risks to SGD rates may be biased to the up
The post Chinese Yuan: Range consolidation after recent retreat against US Dollar – UOB appeared on BitcoinEthereumNews.com.
UOB’s Quek Ser Leang notes that after a prior rise in USD/CNH, upward momentum has now faded, with the pair expected to trade between 6.7950 and 6.8100 in the near term. The analyst reiterates that a close above 6.8080 would open the way toward 6.8195, while maintaining that upside risk persists as long as USD/CNH holds above 6.7830. Upside risk while support holds “24-HOUR VIEW: After USD rose as we expected on Tuesday, we highlighted the following yesterday: “The advance has gathered momentum, and today, USD could break above the 6.8080 resistance. However, any further advance is unlikely to reach last month’s high of 6.8195. To sustain the momentum, USD must hold above 6.7960 (minor support is at 6.8000).” We were not wrong, as USD subsequently dipped to 6.7984, rose to 6.8101 before easing to close largely unchanged at 6.8061 (+0.03%). Upward momentum has fad
The post Australian Dollar: Tentative upside risk above 0.6980 against US Dollar – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Quek Ser Leang sees AUD/USD confined to a 0.6915–0.6950 intraday range as momentum remains lacklustre. For 1–3 weeks, upward momentum is tentatively building, with rising risk of a break above 0.6980 while 0.6900 acts as strong support. Over 1–3 months, however, the broader trend remains negative, with focus on 0.6707 below 0.6835. Australian Dollar holds in tight band “24-HOUR VIEW: AUD fell to a low of 0.6921 two days ago. When it was at 0.6925 yesterday, we stated that “while AUD could retreat further, given the lacklustre downward momentum, any decline is likely to be contained within a 0.6900/0.6950 range.” AUD subsequently rose to 0.6946, dipped to 0.6907 before recovering to close marginally higher by 0.01% at 0.6929. There has been no clear shift in either downward or upward momentum, and AUD is likely to range-trade today, pro
The post Japanese Yen: Downside bias but mixed outlook – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/JPY retains an upside bias, with scope for a test of 162.80 intraday while major resistance at 163.00 is unlikely to be reached. Over 1–3 weeks, the outlook is mixed, with trading expected between 160.60 and 163.00. On a 1–3 month view, the advance can extend as long as the pair holds above the 21-day EMA at 161.00. Advance intact while above 161.00 “24-HOUR VIEW: While we indicated yesterday that “the bias for USD is tilted to the upside,” we pointed out that “any advance is likely to be limited to a test of 162.70.” We pointed out that “support is at 162.00, followed by 161.80.” We were not wrong, as after dipping briefly to 162.05, USD rose and printed a high of 162.70. USD then eased from the high to close at 162.58 (+0.30%). Although there has been no clear increase in upward momentum, there is scope for USD to test 162.80 before a
The post Euro: Support zone key for next leg against US Dollar – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Quek Ser Leang highlights that EUR/USD momentum has flattened, with the Euro expected to trade between 1.1395 and 1.1440 intraday. Over 1–3 weeks, the pair is seen in a broader 1.1360–1.1450 range-trading phase. On a 1–3 month view, a break of the 1.1390/1.1410 support zone would target 1.1210. Euro-Dollar locked in range phase “24-HOUR VIEW: EUR fell to a low of 1.1407 on Tuesday. Yesterday, we highlighted the following: “Despite the relatively sharp decline, downward momentum has not increased much. However, there is scope for EUR to dip below 1.1390. The major support at 1.1360 is unlikely to come into view. Resistance is at 1.1420; a breach of 1.1430 would indicate that the immediate downward pressure has eased.” EUR subsequently declined and printed a low of 1.1390 before recovering to close largely unchanged at 1.1414 (+0.03%). Momentum indicators
The post Chinese Yuan: Downside bias as momentum improves against US Dollar – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Senior Technical Strategist Quek Ser Leang notes that USD/CNH has broken higher, with momentum improving after Monday’s move to 6.8051 and a close at 6.8038. The bank now sees scope for a test of resistance at 6.8080 and potentially last month’s high at 6.8195, provided the pair holds above nearby support levels. Upside risk building above 6.8080 “24-HOUR VIEW: USD rose to a high of 6.7998 on Monday. When USD was at 6.7945 yesterday, we highlighted the following: “Despite the advance, upward momentum has not increased much. However, USD could potentially rise above 6.8000. The major resistance at 6.8080 is unlikely to come under threat. Support is at 6.7900, followed by 6.7850.” We were not wrong, as after dipping briefly to a low of 6.7894, USD rose to a high of 6.8051. USD closed 0.14% higher at 6.8038. The advance has gathered momentum,
The post Australian Dollar: Pullback within broader upside risk against US Dollar – UOB appeared on BitcoinEthereumNews.com.
United Overseas Bank’s (UOB) Quek Ser Leang notes AUD/USD has retreated from recent highs after failing to clear resistance near 0.6980. Intraday downside is seen as limited within 0.6900–0.6950, while the 1–3 week outlook still flags tentative upside momentum and rising odds of a break above 0.6980, even as the 1–3 month view remains structurally negative below 0.6835. Short-term range versus medium-term downside “24-HOUR VIEW: AUD rose to a high of 0.6955 on Monday. Yesterday, we stated that “the rapidly increasing upward momentum suggests upside risks, even though the major resistance at 0.6980 could be just out of reach.” We noted that “there is another resistance at 0.6970.” We were incorrect, as AUD retreated sharply to a low of 0.6921. While AUD could retreat further, given the lacklustre downward momentum, any decline is likely to be contained within a 0.
