USD/SGD: Firm support level at 1.41 – OCBC

Terence Wu, an FX strategists at OCBC Bank, sees limited SGD-centric downside for the USD/SGD for now.

Key quotes 

“A deeper decline for the USD/SGD pair beyond 1.4100 may require a capitulation of the broad USD within G10 space.” 

“For now, look for 1.4100 may be a firm support level, with topside resistance at the 1.4250 area also significant.” 

“On balance, we see the USD-SGD to be sideways for now, with a slight downside bias.”