Rebound is underway – OCBC

USD/SGD bounced as tariff concerns resurfaced. USD/SGD was last seen at 1.3515, OCBC’s FX analysts Frances Cheung and Christopher Wong note.

Rebound risks likely

“This underscores our earlier caution that tariff concerns remain, and this could still keep risk appetite restrained, thereby implying that USD dips may still find support. Bearish momentum remains but shows tentative signs of fading while RSI shows signs of turning higher from near oversold conditions. Rebound risks likely.”

“Resistance at 1.3520/40 levels (50 DMA, 23.6% fibo retracement of Sep low to Jan high), 1.3630 (21 DMA). Support at 1.3480, 1.3440 levels.”