FxWirePro: Singapore dollar falls drastically against U.S. dollar; hits lowest level since March 01, 2017
USD/SGD is currently trading around 1.4109 marks. It made intraday high at 1.4141 and low at 1.4066 levels. Intraday bias remains bullish for the moment. A daily close above 1.4102 will test key resistances at 1.4142, 1.…
It made intraday high at 1.4141 and low at 1.4066 levels.
Intraday bias remains bullish for the moment.
A daily close above 1.4102 will test key resistances at 1.4142, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
Alternatively, a consistent close below 1.4102 will drag the parity down towards key supports at 1.4010, 1.3938, 1.3870, 1.3838, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 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 1.4080, stop loss 1.4050 and target of 1.4188/1.4234.
