FxWirePro: Prefer to go long on USD/SGD only above 1.3648 with stop loss at 1.3585 and target of 1.3799
USD/SGD is currently trading around 1.3625 marks. It made intraday high at 1.3630 and low at 1.3606 levels. Intraday bias remains neutral till the time pair holds initial support at 1.3585 marks. A sustained close above …
It made intraday high at 1.3630 and low at 1.3606 levels.
Intraday bias remains neutral till the time pair holds initial support at 1.3585 marks.
A sustained close above 1.3648 will test key resistances at 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3585 will drag the parity down towards key supports at 1.3488/1.3452/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
We prefer to go long on USD/SGD only above 1.3648 with stop loss at 1.3585 and target of 1.3799.
