0557 GMT - USD/SGD is likely under mild downward pressure for the next one to three weeks, based on the daily chart, say strategists at UOB Global Economics & Markets Research, in a research report. USD/SGD's downward momentum is probably starting to build and seems sufficient to suggest the beginning of a sustained decline, say the strategists, noting the currency pair's brief drop below initial support at 1.3505 on Wednesday. As long as initial resistance at 1.3585 isn't breached, the currency pair is expected to remain under pressure, UOB adds. USD/SGD is little changed at 1.3530. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
July 04, 2024 01:57 ET (05:57 GMT)
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