May have found strong short-term support – OCBC

USD/SGD continues to trade near recent low but decline may have found strong support in the short term. Pair was last at 1.2830, OCBC FX analysts Frances Cheung and Christopher Wong note.  

Daily momentum is flat

“USD/SGD continued to trade near recent low but decline may have found strong support in the short term.”

“Daily momentum is flat while RSI rose. Risks somewhat skewed to the upside. Resistance at 1.2910, 1.2970 (21 DMA). Support at 1.2820, 1.2740 levels. Sell rallies preferred.”