Over the coming weeks, the strategists still see downside risk, but stresses that a clear break below 1.2765 is needed to open 1.2740, while 1.2840 caps the topside. Dollar stays capped versus Singapore"24-HOUR VIEW: USD recovered some of last Friday’s decline, closing 0.17% higher at 1.2807. There has been no clear increase in upward momentum, and the current price movements are likely part of a range-trading phase. While the price action continues to suggest downside risk, USD must break clearly below 1.2765 before a move to 1.2740 can be expected. On the upside, a breach of 1.2840 (‘strong resistance’ previously at 1.2850) would indicate that the downside risk has faded."