FxWirePro: Singapore dollar falls drastically against U.S. dollar; hits lowest level since Jan 02, 2017
USD/SGD is currently trading around 1.4539 marks. It made intraday high at 1.4543 and low at 1.4383 levels. Intraday bias remains bullish till the time pair holds key support at 1.4292 mark. A daily close above 1.4429 wi…
It made intraday high at 1.4543 and low at 1.4383 levels.
Intraday bias remains bullish till the time pair holds key support at 1.4292 mark.
A daily close above 1.4429 will test key resistances at 1.4546, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
Alternatively, a consistent close below 1.4292 will drag the parity down towards key supports at 1.4210, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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 1.4525, stop loss 1.4380 and target of 1.47/1.4762.
