0628 GMT - USD/SGD's downward momentum is building rapidly, based on technical analysis, says Quek Ser Leang of UOB's Global Economics & Markets Research in a research report. The currency pair has reached the 1.2600 support level much sooner than expected, sliding to a low of 1.2590 on Tuesday, the senior technical strategist notes. "Now that the declining weekly trendline support at 1.2600 has been breached, albeit slightly, the next long-term support sits at the 2014 low of 1.2365," the strategist says. To maintain the rapid build-up in downward momentum, USD/SGD should stay below 1.2720, the strategist adds. USD/SGD is little changed at 1.2597, LSEG data show. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 28, 2026 01:28 ET (06:28 GMT)
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