FxWirePro: Singapore dollar falls drastically in early Asia; hits lowest level since Dec 11, 2019
USD/SGD is currently trading around 1.3580 marks. It made intraday high at 1.3585 and low at 1.3570 levels. Intraday bias remains bullish for the moment. A daily close above 1.3576 will test key resistances at 1.3637, 1.…
It made intraday high at 1.3585 and low at 1.3570 levels.
Intraday bias remains bullish for the moment.
A daily close above 1.3576 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3487 will drag the parity down towards key supports at 1.3457, 1.3387, 1.3350 and 1.3267 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on USD/SGD around 1.3570, stop loss at 1.3550 and target of 1.3637/1.3670.
