USD/SGD Surges as Resistance Fails: Key Insights for Traders
USD/SGD rose another leg higher post-FOMC as the strength of the US dollar overwhelms market sentiment. The pair was last observed trading at 1.3615, indicating bullish momentum. Analysts at OCBC report significant buying activity in the wake of the Fed’s latest monetary policy announcement, shifting market dynamics. Traders should monitor upcoming economic reports that could further influence the pair’s trajectory. Support is expected around 1.3550, with resistance observed at 1.3650, indicating potential volatility in the short term. Continued strength in the US dollar could further heighten USD/SGD activity in the days ahead.
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