FxWirePro: Singapore dollar trades flat in early Asia, bias remains neutral
USD/SGD is currently trading around 1.3462 marks. It made intraday high at 1.3465 and low at 1.3452 levels. Intraday bias remains neutral till the time pair holds key support at 1.3432 mark. A daily close above 1.3466 wi…
It made intraday high at 1.3465 and low at 1.3452 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3432 mark.
A daily close above 1.3466 will test key resistances at 1.3490, 1.3550, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
Alternatively, a consistent close below 1.3452 will drag the parity down towards key support at 1.3432/1.3396/1.3346/1.3217/1.3164/1.3005 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.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
