USD/SGD forecast for today by Traders Union analysts
USD/SGD is an exotic pair, but with rather high liquidity. The Singapore currency is ranked 15th in terms of trading volume, growing steadily both in Southeast Asia and beyond. In this pair, the Singapore dollar is the quoted currency and the U.S. dollar is the base currency. The exchange rate shows the price of USD 1 in SGD.
Taking into account that the USD/SGD exchange rate has average volatility, this instrument is suitable both for professional and novice traders. Intraday fluctuations are around 200-300 points. The spreads largely depend on the broker’s policy and can vary within 5-10 pips.
Traders Union analysts conduct daily research and make the USD/SGD forecast based on the indicators of technical analysis (such instruments as technical indicators, patterns, support and resistance levels, chart figures, and others are used). This information helps traders make informed decisions that bring them profit.
USD/SGD sells on attempts to rise
31.05.2024
The U.S. dollar was bought on a dip against the Singapore dollar to 1.3495 support yesterday but was sold on a rise to 1.3626. Ahead of the U.S. PCE release, it is under pressure again, and bears may test 1.3490-1.3470 support. If the PCE rises, the U.S. dollar could test 1.3535-1.3550 resistance.
USD/SGD drops after rally
30.05.2024
The U.S. dollar's rise against the Singapore dollar has not continued. After testing 1.3535 resistance, it came under pressure again, dropping to the 1.3507. However, a decline toward the 1.3500 figure could be used for buying and retesting current highs. Breaking this level will lead to a decline toward 1.3480-1.3470.
USD/SGD rises after Singapore PPI release
29.05.2024
Singapore's Producer Price Index dropped by -0.1% instead of the expected 0.3% increase, causing the Singapore dollar to weaken. This led to the USD/SGD pair rising to 1.3508. Bulls might next target the 1.3520-1.3530 resistance levels, but the potential for further gains will be limited until the U.S. PCE data is released.
USD/SGD is under pressure again
28.05.2024
The U.S. dollar is once again under selling pressure across the market, including against the Singapore dollar. At the moment, bears are attempting to break 1.3470 support, which would allow them to test 1.3445. Breaking 1.3485 local resistance will lead to a growth toward 1.3500.
USD/SGD remains under pressure
27.05.2024
After rising to the 1.3525 resistance, the U.S. dollar remains under selling pressure against the Singapore dollar, causing it to drop to the 1.3488 level at the moment. The next bears may test the 1.3470-1.3460 support. Its break will lead to a decline toward 1.3450. Crossing 1.3505 will allow bulls to test 1.3520-1.3530.
USD/SGD is under pressure after rise
24.05.2024
Strong U.S. economic data boosted the U.S. dollar against the Singapore dollar, breaking the 1.3510 resistance and reaching 1.3526. However, it faced pressure again and is now trading below 1.3510, increasing the chance of retesting the 1.3485 support. Pullbacks might still be used for buying. Losing this support will lead to a decline toward 1.3460-1.3440.
USD/SGD under pressure after attempted rally
23.05.2024
The U.S. dollar broke the 1.3490 resistance against the Singapore dollar, rising to the 1.3510 resistance level. However, bulls couldn't overcome the offers placed at this level, and renewed pressure pushed it back down to the now-support level at 1.3490. If this support is broken, bears might test the 1.3470-1.3460 support range. Clearing the resistance will lead to a growth toward 1.3530-1.3540.
USD/SGD attempts to continue recovery
22.05.2024
The U.S. dollar found 1.3465 support against the Singapore dollar, and bulls are now trying to break the 3490 resistance. If successful, they could test 1.3520-1.3530 resistance. Losing 1.3480-1.3470 support would lead to a decline toward 1.3450-1.3440.
USD/SGD is under pressure after growth attempt
21.05.2024
The U.S. dollar continued to recover against the Singapore dollar but faced 1.3480 resistance, with growth limited at 1.3490. After testing this level, the pair fell to 1.3465 support. From here, attempts to test 1.3480-1.3490 again are possible. Losing support will lead to a decline toward 1.3450-1.3440, where buying might occur.
USD/SGD attempts to resume growth
20.05.2024
Remaining under pressure against the Singapore dollar, the U.S. dollar failed to break 1.3480 resistance , leading to a decline to 1.3445 support. Still, there's a chance for growth to resume from the current levels, confirmed by a breakout of the resistance mentioned earlier. The loss of current support will lead to a decline toward 1.3420 support.
USD/SGD tries to continue recovery
17.05.2024
The U.S. dollar's decline against the Singapore dollar from the 1.3480 resistance was contained by 1.3455 support, with buying activity pushing it back to resistance, thus maintaining the potential for a breakout and an upward move toward 1.3500. A loss of support will lead to a decline toward 1.3420.
USD/SGD is also being sold off
16.05.2024
Yesterday's sell-off of the U.S. dollar against the Singapore dollar led to a breakout of 1.3500-1.3490 support and a decline to 1.3420 support. Currently, efforts to climb are restrained by 1.3450 resistance, thus prompting bears to potentially reattempt breaking the present low. Breaking resistance will lead to a growth toward 13480.
USD/SGD continues to decline
15.05.2024
Another drop in the U.S. dollar to the 1.3520 support against the Singapore dollar resulted in its breakout and decline to the 1.3482 level. Before the U.S. inflation data is released, there might be a bounce from this level toward 1.3510. Rising inflation could contribute to recovery toward 1.3530-1.3550, while its slowdown will lead to a decline toward 1.3460.
USD/SGD still in a narrow range
14.05.2024
The decline of the U.S. dollar against the Singapore dollar to 1.3520 support again attracted buying interest, but it was not enough to absorb the offers placed from the 1.3540 level. The release of the U.S. Producer Price Index and the speech by Jerome Powell could influence how the pair behaves, and until these events occur, it will remain within a limited trading range.
USD/SGD being sold on attempts to rise
13.05.2024
Small buys of the U.S. dollar against the Singapore dollar pushed it up to 1.3550, but now it's facing pressure again, nearing the 1.3520 support. Thus, the risks of breaking it and declining to the 1.35 figure still remain. Breaking the resistance will lead to a growth toward 1.3570-1.3590.
USD/SGD declines after testing 1.3570
10.05.2024
The Singapore dollar was sold against the U.S. dollar after testing 1.3570 resistance. Currently, its decrease is capped by 1.3520 support, with potential testing of 1.3550-1.3570 above it. Losing support will lead to a decline toward 1.3500-1.3480. The decline of the U.S. dollar does not seem justified.
USD/SGD returned to 1.3563 resistance
09.05.2024
After testing 1.3563 resistance in the USD/SGD pair, the U.S. dollar declined to 1.3538 support, where it was bought again. Right now, the bulls are trying to break resistance again. Breaking it will lead to a growth toward 1.3580-1.3600. Losing support will lead to a decline toward 1.3530-1.3520. Downward pullbacks can still be used for buying.
USD/SGD continues its recovery
08.05.2024
Yesterday the U.S. dollar extended its rebound against the Singapore dollar, leading to breaking the 1.3540 resistance and testing the 1.3563 level. Bulls may test 1.3580-1.3590 resistance, and if it is broken, the level of 1.3630. The loss of 1.3550 support will lead to a decline toward 1.3520. The macroeconomic calendar of Singapore for this week lacks any significant events that might impact the movement of the Singapore dollar.
USD/SGD unable to break 1.3540 resistance
07.05.2024
Rebounding from 1.3490 support, the U.S. dollar rose to 1.3540 resistance against the Singapore dollar. This level is currently holding back bullish pressure, so the risks of a resumption of decline and testing of 1.3490 persist. Breaking resistance will lead to a growth toward 1.3560-1.3580. The NFP report, which came out weaker than expected, is unlikely to support a prolonged and substantial decline in the U.S. dollar.
USD/SGD continues to decline
03.05.2024
The U.S. dollar remains under selling pressure against the Singapore dollar. Yesterday, bears broke 1.3580 support, leading to a drop to 1.3520 support, which bears are trying to break again at the moment. Poor job data from the U.S. could help with this, and then bears will check the 1.3490-1.3470 support next. Breaking 1.3540/50 resistance will lead to a growth toward 1.3570-1.3590.
USD/SGD dropped to 1.3580 support
02.05.2024
After the Federal Reserve's decision to leave interest rates unchanged, the U.S. dollar continued to decline against the Singapore dollar, testing 1.3580 support. Bullish activity and a rise toward 1.3620-1.3630 could be possible from current levels. Losing support will lead to a decline toward 1.3560-1.3550.
USD/SGD is testing 1.3655 resistance
01.05.2024
As people wait for the Federal Reserve to decide on interest rates, many want to get the U.S. dollar instead of the Singapore dollar. This has led it to break 1.3620 resistance and rise to 1.3655 level. The Federal Reserve is expected to leave the interest rate unchanged, so the U.S. dollar's movement may be influenced by comments from its chairman, Jerome Powell. Hints suggesting that interest rates might be cut soon could make people sell, but if they plan to keep the rates the same for a while, the U.S. dollar could go up to between 1.3670 and 1.3690.
USD/SGD remains within a range
30.04.2024
The U.S. dollar's exchange rate against the Singapore dollar continues to oscillate within the range, with hovering 1.3580 support and 1.3620-1.3630 resistance. The prospects for the pair remain constructive, but the bulls' inability to break resistance will result in the loss of support and a decline toward 1.3560-1.3550. The consolidation within this range might continue until the Federal Reserve makes a decision regarding interest rates.
USD/SGD consolidates within range
29.04.2024
Against the Singapore dollar, the U.S. dollar continues to consolidate within a range between 1.3590-1.3580 support and 1.3620-1.3630 resistance. Its prospects still look constructive, and bulls may break the current resistance and test 3660/70 resistance. Losing support will lead to a decline toward 1.3560-1.3540.
USD/SGD is being bought from support ahead of the U.S. PCE
26.04.2024
Ahead of the release of the U.S. Personal Consumption Expenditure Index, the U.S. dollar against the Singapore dollar is being bought from 1.3580 support, but bulls are currently unable to break 1.3608/20 resistance. A rise in the index could facilitate resistance breakout and testing of 1.3640-1.3650. A decline in the index could trigger support breakout and a decrease in the pair toward 1.3570-1.3550.
USD/SGD again tests support at 1.3590
25.04.2024
U.S. dollar bulls failed to break 1.3620 resistance against the Singapore dollar. Remaining under the pressure of sellers, the U.S. dollar is currently testing the 1.3590 support, the risks of breaking it and declining toward 1.3560-1.3550 look high. Breaking 1.3610 will lead to growth toward 1.3630-1.3640.
USD/SGD declines on weak U.S. PMI
24.04.2024
The decline in U.S. manufacturing PMI contributed to the weakening of the U.S. dollar against the Singapore dollar, resulting in the breaking of the 36th figure support and testing the level of 1.3585. However, slowing inflation in Singapore may prompt the central bank to lower the interest rate, expectations of which may put pressure on the Singapore dollar, so the U.S. dollar may again test 1.3635-1.3660 resistance. The loss of support will lead to a decline toward 1.3550.
USD/SGD continues consolidation within range
23.04.2024
Consolidation of the U.S. dollar against the Singapore dollar continues. The fluctuations in the pair's exchange rate at this stage occur within the range between 1.3600 support and 1.3630 resistance, with chances of breaking resistance and growing toward 1.3660. The loss of support will lead to a decline toward 1.3580-1.3560. Data released today showed a slowdown in inflation growth, which may help to keep pressure on the Singapore dollar.
USD/SGD is trying to solidify above 1.3600
22.04.2024
During retracements to 1.3600 support, U.S. dollar continues to be brought against Singapore dollar, but bulls are presently unable to break 1.3630 resistance. Nonetheless, the outlook for U.S. dollar remains favorable, and upon overcoming the resistance, bulls will test the subsequent resistance level, positioned at 1.3655. A failure of support will lead to a decline toward 1.3580-1.3560.
USD/SGD sold on the rise
19.04.2024
Breaking 1.3625 resistance, the U.S. dollar resumed its rise against the Singapore dollar and tested the level of 1.3655, but here it was sold, returning it to support at 1.3610. Attempts to retest 1.3655 are possible from here. Loss of support will lead to a decline toward 1.3580.
USD SGD Chart
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Why do we need the USD/SGD forecast?
During the day, USD/SGD trading is moderate. The peak of activity falls at the beginning of the U.S. and Asian trading sessions. Considering the pair’s moderate volatility, various strategies suitable for the flat can be used. However, you need to take the USD/SGD forecast into consideration to avoid losing money.
The price of this Forex instrument is largely impacted by the oil and petroleum products prices. In addition, it should be taken into account that Singapore is an active equipment supplier for oil companies, and therefore the situation in the industrial sector can also influence the exchange rate. Also, a direct correlation of the USD/SGD price is observed with the stocks of well-known international companies. The reason for that is the favorable business environment in Singapore: loyal tax policy and continuous influx of investments.
FAQ
1
How volatile is the USD/SGD pair?
The USD/SGD pair is moderately volatile, which makes it popular among professional traders as well as beginners. The fluctuations inside the day are up to 200-300 points.
2
What factors need to be considered in addition to technical analysis?
The USD/SGD
pair is trading at a moderate pace. Therefore, strategies for trading in the flat can be used. The exchange rate is influenced by the oil and petroleum products prices since Singapore is the equipment supplier in this industry, as well as the political situation (direct influence on the U.S. dollar).
3
When is the peak of trading activity for USD/SGD?
The peak of trading activity falls at the beginning of the U.S. and Asian trading sessions. Inside the day, the pair is traded at a rather moderate pace.
4
How is the forecast made?
Traders Union experts use instruments and methods of
technical analysis to make the USD/SGD forecast. Price charts and the depth of the market are used to determine price patterns. Technical analysis helps to weed out behavioral deviations.