USD/SGD: To consolidate on the day – OCBC

USD/SGD rose, tracking the rise in broad USD, UST yields as Trump won elections. Pair was last at 1.3294 levels, OCBC’ FX analysts Frances Cheung and Christopher Wong note.

To consolidate for now

“Daily momentum is flat but rise in RSI moderated. We see consolidation for now. Resistance at 1.3350 (200 DMA). Support at 1.3290 (61.8% fibo retracement of Jun high to Oct low), 1.3190 (50% fibo), 1.31 (38.2% fibo).”

“S$NEER eased; last at 1.38% above model-implied mid.”