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 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.
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 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.