FxWirePro: Singapore dollar falls drastically against U.S. dollar, hits lowest level since May 2017
USD/SGD is currently trading around 1.3881 marks. It made intraday high at 1.3924 and low at 1.3870 levels. Intraday bias remains bullish till the time pair holds key support at 1.3870 mark. A daily close above 1.3870 wi…
It made intraday high at 1.3924 and low at 1.3870 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3870 mark.
A daily close above 1.3870 will test key resistances at 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3870 will drag the parity down towards key supports at 1.3832, 1.3794, 1.3754 and 1.3670 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Singapore will release industrial production data around 0500 GMT.
We prefer to take long position on USD/SGD around 1.3875, stop loss at 1.3832 and target of 1.3945/1.3984.
