0512 GMT - USD/SGD could rebound toward significant resistance zone of 1.2978-1.3000, based on daily chart, says Quek Ser Leang of UOB's Global Economics & Markets Research in a research report. The currency pair's daily moving average convergence divergence remains in positive territory, the senior technical analyst says. At its present level, USD/SGD seems to have edged above a falling wedge pattern. This signals current price movements could be the early stages of a rebound phase that may extend to May's high of 1.2978, the analyst says. Also, the 55-day exponential moving average isn't far above this level, presently around 1.3000, the analyst adds. USD/SGD is 0.2% higher at 1.2873. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 19, 2025 01:12 ET (05:12 GMT)
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