FxWirePro: Singapore dollar falls drastically against U.S. dollar, hits lowest level since May 2017
USD/SGD is currently trading around 1.3937 marks. It made intraday high at 1.3938 and low at 1.3907 levels. Intraday bias remains bullish till the time pair holds key support at 1.3850 mark. A daily close above 1.3913 wi…
It made intraday high at 1.3938 and low at 1.3907 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3850 mark.
A daily close above 1.3913 will test key resistances at 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3913 will drag the parity down towards key supports at 1.3848, 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.
We prefer to take long position on USD/SGD around 1.3930, stop loss at 1.3887 and target of 1.3984.
