FxWirePro: Singapore dollar erases previous loss against U.S. dollar, bias turns bearish again
USD/SGD is currently trading around 1.3604 marks. It made intraday high at 1.3619 and low at 1.3600 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3667 mark. A daily close above 1.3608…
It made intraday high at 1.3619 and low at 1.3600 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3667 mark.
A daily close above 1.3608 will test key resistances at 1.3667, 1.3715, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
Alternatively, a consistent close below 1.3608 will drag the parity down towards key supports at 1.3600/1.3562/1.3510/1.3492/1.3460/1.3418/1.3346/1.3217/1.3164/1.3005 levels respectively.
Singapore September bank lending s$640.7 bln.
We prefer to take short position in USD/SGD only below 1.3600, stop loss 1.3667 and target of 1.3510.
