Insights 
VT 
The USD is expected to trade within a range of 7.1770 to 7.1970, maintaining this range in the short-term view. Analysts Quek Ser Leang and Peter Chia suggest that in the longer term, the USD has likely entered a trading phase between 7.1620 and 7.2200.
In a 24-hour analysis, the USD was anticipated to range between 7.1700 and 7.1950 but ended up in a slightly narrower band, indicating a continuation of range trading. This remains consistent with the initial longer-term outlook.
Short Term Momentum
The analysis for 1-3 weeks affirms no change to the previous assessment where momentum eased, suggesting the USD remains within the established trading range. The USD’s recent movement supports this range-bound prediction.
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With the US dollar clinging to its trading corridor between 7.1770 and 7.1970, what we’re observing is a market that stubbornly resists breakout movement—for now. If we stretch the lens out further, the suggestion from Quek and Chia is a broader envelope between 7.1620 and 7.2200, implying a consolidation pattern that favours caution over conviction.
What that actually tells us, in plain terms, is that directional conviction is absent. Momentum—where the market pushes harder in one direction—has softened. We’ve watched price behave well within the band you’d expect if participants are uncertain or simply rotating positions rather than initiating anything new. Arguably, this is exactly the sort of structure that rewards a fade-the-extremes mentality—selling towards the upper boundary and buying near the lower fringe—until proven otherwise.
Market Patience
From our perspective, that suggests fading sharp moves towards 7.22 or 7.16 would make more sense than assuming a breakout will hold, especially with short-term volatility muted. Directional trades initiated too close to mid-range levels risk being eroded by mean reversion. So rather than chasing prices, it’s better to let price come to areas where risk-reward becomes clearer.
For those watching the market hourly, we’ve noted that the 24-hour band narrowed even more than was projected. That’s more than just statistic; it reflects the lack of impulse in either direction. That further cements the view that any strong directional setups are lacking confirmation. When this is the nature of things, premium decay becomes an active consideration in options-based strategies.
In quieter regimes like this, implied volatility can tend to drift lower. It’s reasonable to consider opportunities where theta—or time decay—can work in one’s favour. We’ve seen time and again how range-bounded currencies can punish the impatient. Patience is a position too.
Traders often look for signs that these defined boundaries will give way—perhaps through a catalyst or a shift in macro tones. But there’s nothing within recent positioning or order flow suggesting that’s imminent. In fact, fading premature excitement has been a profitable stance over the past week.
What we do know is that the broader mean remains intact. We’re not looking at explosive breakouts. We’re looking at a market circling a middle point, with repetitive turns and dampened energy. The risk in a time like this isn’t being left out of a rally, but rather, overcommitting in anticipation of one.
This is where the discipline of protecting against noise becomes more valuable than getting caught trying to anticipate a breakout that does not materialise. When things stay within brackets for this long, it’s often better to let price prove otherwise and only then adjust.
That said, ranges don’t last forever. When they do break, it can be sharp. But there’s still no pressure in the current movement that indicates the long-established thresholds are under threat. For now, measured responses carry more logic than aggressive ones.
