FxWirePro: Singapore dollar falls noticeably against U.S. dollar; hits lowest level since Dec 04, 2019
USD/SGD is currently trading around 1.3630 marks. It made intraday high at 1.3640 and low at 1.3598 levels. Intraday bias remains bullish for the moment. A daily close above 1.3605 will test key resistances at 1.3637, 1.…
It made intraday high at 1.3640 and low at 1.3598 levels.
Intraday bias remains bullish for the moment.
A daily close above 1.3605 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3605 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 1.3625, stop loss at 1.3590 and target of 1.3670.
