0351 GMT - USD/SGD is poised to trade in a 1.3370-1.3670 range for next month or so, based on the weekly chart, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research. Although the currency pair's fall below 21-week and 55-week exponential moving averages last week suggests upside pressure has subsided, it's premature to expect USD/SGD to break support on its rising trendline, which has moved higher to 1.3370 from 1.3345 previously, the strategist says. Also, 1.3345 remains notably strong support and the probability of USD/SGD falling below this level isn't high, the strategist says in a research note. USD/SGD is little changed at 1.3518. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 06, 2024 23:51 ET (03:51 GMT)
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