Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Singapore dollar erases previos loss against U.S. dollar, good to sell on rallies

  • USD/SGD is currently trading around 1.3383 marks.
     
  • It made intraday high at 1.3406 and low at 1.3375 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1.3470 mark.
     
  • A daily close above 1.3392 will test key resistances at 1.3470, 1.3532 and 1.3587 levels respectively.
     
  • Alternatively, a consistent close below 1.3392 will drag the parity down towards key support at 1.3311/1.3255/1.3218 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on USD/SGD around 1.3387, stop loss 1.3438 and target of 1.3311.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invests

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.