FxWirePro: Singapore dollar erases previous gain against U.S. dollar, bias turns bullish again
USD/SGD is currently trading around 1.3762 marks. It made intraday high at 1.3762 and low at 1.3748 levels. Intraday bias remains bullish till the time pair holds key support at 1.3690 mark. A daily close above 1.3753 wi…
It made intraday high at 1.3762 and low at 1.3748 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3690 mark.
A daily close above 1.3753 will test key resistances at 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
Alternatively, a consistent close below 1.3753 will drag the parity down towards key supports at 1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/SGD around 1.3750, stop loss at 1.3700 and target of 1.3838/1.3872.
