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 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.
US dollar/Singapore dollar dropped to support at 1.3580
18.04.2024
Yesterday, the U.S. dollar continued to face selling pressure against the Singapore dollar, resulting in a test of support 1.3580. This decline could be used for buying and testing resistance at 1.3620-1.3640. loss of support will lead to a decline toward 1.3550.
USD/SGD is moving away from the resistance level of 1.3650
17.04.2024
Despite rather ‘hawkish’ comments by Fed Chair Jerome Powell, the U.S. dollar is under selling pressure within the pair with the Singapore dollar, against the background of which it failed to break the resistance level of 1.3650 and was forced to retreat to the support level of 1.3615. A decline toward the 36th figure can be used for buying; its loss will lead to a decline toward 1.3580-1.3560.
USD/SGD pulled back to support after rising
16.04.2024
Benefiting from sustained demand, the US Dollar broke through resistance around 1.3630 and tested the 1.3667 level against the Singapore Dollar. At the moment, bears tested 1.3630 as support but failed, so the US Dollar may test the current high again; a loss of support would lead to a decline toward 1.3600.
USD/SGD updates current highs
15.04.2024
In full accordance with our expectations, the US dollar continues to be redeemed for the Singapore dollar. On Friday, the bulls broke the resistance at 1.3540 and tested the resistance at 1.3615, which the bulls failed to break. Bears may become active at current levels, but a pullback towards 1.3570-1.3550 can be used for buying.
USD/SGD continues to rise
12.04.2024
Despite the decline in the US PPI, the US dollar, after finding support around 1.3515, broke the resistance at 1.3550 and rose to 1.3583 in the pairing with the Singapore dollar. The outlook for the Americans looks constructive, and bulls may test the 36th figure; a loss of 1.3550 support would lead to a decline towards 1.3530.
USD/SGD soared to 1.3545
11.04.2024
In the pairing with the Singapore dollar, the USD was under selling pressure yesterday, but the release of strong US inflation data brought back buyers, and against this backdrop, the pair soared to resistance near 1.3545. Pullbacks are currently limited to the support at 1.3530, above which there is a potential to break the resistance and rise towards 1.3560-1.3570; loss of support will lead to a decline towards 1.3500.
USD/SGD continued to decline
10.04.2024
Yesterday, the US dollar was sold again for the Singapore dollar, breaking support around 1.3470 and testing the level of 1.3440. Today, the US inflation data will be released, which, if rising, may help the pair return to the resistance at 1.3470-1.3480; a slowdown in inflation may keep the pressure on the US dollar.
USD/SGD under moderate pressure
09.04.2024
In the pairing with the Singapore dollar, the American was also under selling pressure yesterday, forcing it to retreat to the support at 1.3475. It may remain under pressure until the release of US inflation data, but it may trade within the range between support at 1.3460 and resistance at 1.3500-1.3515.
USD/SGD remains under pressure
08.04.2024
The USD/SGD rebound to resistance near 1.3510 on strong US NFP encountered bears' oafs, amid which it declined to support at 1.3475. There is no reason for the US Dollar to sell off at the moment, so the bulls may try to break Friday's high again; loss of support will lead to a decline towards 1.3460-1.3450.
USD/SGD sold off from the 1.3500 resistance
05.04.2024
Remaining under selling pressure, the US dollar tested support at around 1.3460 against the Singapore dollar before pulling back to resistance at around 1.3500. A strong US manufacturing employment report may help the US dollar to move back towards the 35th figure; a weak report may break the support and pull back towards 1.3440.
USD/SGD declines again
04.04.2024
US Fed Chairman Jerome Powell reiterated that the central bank needs to ensure that inflation is under control before lowering the interest rate, but his comments did not support the US Dollar and instead caused a sell-off, including against the Singapore Dollar. After breaking support around 1.3510/00, the bears have tested 1.3470 for now. They may test 1.3450 support next, from which the US dollar could be bought back again.
USD/SGD retreats from resistance at 1.3535
03.04.2024
Remaining positive, the USD tested the resistance at 1.3535 yesterday, failed to break through it, and was forced to retreat to the support at 1.3505. Pullbacks to the downside can still be used for buying; a loss of 1.3480 support will lead to a decline towards 1.3460-1.3440. In the short term, it may trade in the current range.
USD/SGD under pressure after growth
02.04.2024
The release of strong statistics on the US and the growth of yields on US government bonds contributed to the development of the US dollar against the Singaporean dollar, which led to the resistance at 1.3535. The bulls have not been able to break through it yet, and at the moment, the pair is under moderate pressure. Nevertheless, its decline can be used for buying and another test of resistance; the loss of the 35th figure will lead to a decline in the support at 1.3480.
USD/SGD is trying to resume growth
01.04.2024
The USD/SGD decline is limited at this stage by the support at 1.3475, from which the bulls continue to try to break through the resistance at 1.3500-1.3510, in case of which we should expect the pair to pass 1.3520 and grow towards 1.3540-1.3550; loss of support will lead to a decline towards 1.3450-1.3440.
USD/SGD retreats from resistance at 1.3517
29.03.2024
Ahead of the US PCE publication, the USD/SGD bulls were taking profits on long positions after breaking the resistance at 1.3490 and testing 1.3517, as a result of which the pair retreated to the support at 1.3490. A rise in the index may support the US dollar and the bulls may test the current high again; on a decline in the index, the bears may test 1.3470-1.3450.
USD/SGD is buying again
28.03.2024
USD/SGD buying resumed, as a result of which resistance around 1.3485 was broken and 1.3515 was tested. From current levels, bears may become active and test the support at 1.3485-1.3470; a break of the current resistance will lead to a rise towards 1.3530-1.3550.
USD/SGD is rising again
27.03.2024
The USD/SGD pullback to support near 1.3440 attracted fresh buying interest, amid which bulls attacked the 1.3485 resistance. The nearest support now lies around the 1.3470 level, above which chances of testing 1.3500/10 remain high; loss of support would lead to a decline towards 1.3440-1.3420.
USD/SGD remains under pressure
26.03.2024
The US dollar sold off for the Singapore dollar in an attempt to break the 35th figure, which caused it to decline to support near 1.3440. Nevertheless, on the downside, the American may be bought back again, and the bulls will test the resistance around 1.3460-1.3470; loss of support will lead to a decline towards 1.3420-1.3410, where buying the pair is also possible.
USD/SGD continues to rise
25.03.2024
Despite expectations of three interest rate cuts by the US Federal Reserve, the US dollar continued to rise against the Singapore dollar on Friday. It broke through the resistance at 1.3445 and rose to 1.3500, which is currently holding back the bulls' onslaught. This week, several statistical data on Singapore are expected to be published, but they should be strong enough to ease the pressure on the Singapore dollar. Otherwise, the American will continue to grow towards 1.3530-1.3550. Loss of support at 1.3480 will lead to a decline towards 1.3460-1.3440.
USD/SGD tested 1.3500
22.03.2024
Thanks to the demand from the support around 1.3370 in the pair with the Singapore dollar, the American returned to the resistance around 1.3445, broke it, and rose to the 35th figure. Its breakthrough will lead to growth in resistance at 1.3525, but on the way to this level, the bears' activation is possible. Pullbacks towards 1.3470-1.3450 can be used for buying.
USD/SGD sold off on Fed comments
21.03.2024
Having announced its intention to lower the interest rate three times this year, despite the strong labor market data, the US Fed yesterday triggered the selling of the US dollar against the Singapore dollar, as a result of which it collapsed to the support at 1.3370. Growth attempts at the moment are limited by the resistance around the 34th figure, below which the risks of support breakdown and decline towards 1.3350 prevail; its passage will allow to test 1.3420-1.3440.
USD/SGD moves higher
20.03.2024
Yesterday, the demand for the USD/SGD pairing with the Singapore dollar persisted. After breaking through resistance around the 1.3400 level, the bulls tested the 1.3434 level, followed by a pullback to the 1.3415 support. The pair may remain positive ahead of the Fed's interest rate decision, but selling is possible on the event.
USD/SGD moves higher
19.03.2024
As expected, the USD pullback to support near 1.3375 in the pair with the Singaporean was used for buying, against which resistance near 1.3395 was tested. Bulls may test the resistance at 1.3400-1.3420, but further dynamics of the pair may depend on the outcome of the FOMC meeting.
USD/SGD recovers losses
18.03.2024
The U.S. statistics published last week supported the U.S. dollar, which rose to resistance near 1.3380 in the pair with the Singapore dollar. A weekly close near this level increases the chances of a rise towards the 34th figure; a loss of support at 1.3360 would lead to a decline towards 1.3340-1.3320.
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.