FxWirePro: Singapore dollar falls noticeably against U.S. dollar, faces immediate resistance at 1.3690 mark
USD/SGD is currently trading around 1.3682 marks. It made intraday high at 1.3687 and low at 1.3648 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3690 mark. A daily close above 1.3648…
It made intraday high at 1.3687 and low at 1.3648 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.3690 mark.
A daily close above 1.3648 will test key resistances at 1.3690, 1.3720, 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
Alternatively, a consistent close below 1.3648 will drag the parity down towards key supports at 1.3620/1.3570/1.3510 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 only above 1.3700, stop loss at 1.3648 and target of 1.3770.
