FxNews—USD/SGD trades sideways in a narrow range area but below the 75-period simple moving average. This means the currency pair is mildly bearish; however, the Stochastic hovers in the oversold territory, hinting at a trend reversal.
The immediate resistance is at 1.342. From a technical perspective, bulls could revisit the November high at 1.351 if USD/SGD closes and stabilizes above this resistance.
Conversely, the downtrend could extend to 1.334 if bears hold the prices below the immediate resistance (1.342).
