FxWirePro: Singapore dollar trades marginally lower in early Asia, good to buy on dips
USD/SGD is currently trading around 1.3906 marks. It made intraday high at 1.3910 and low at 1.3887 levels. Intraday bias remains bullish till the time pair holds key support at 1.3865 mark. A daily close above 1.3925 wi…
It made intraday high at 1.3910 and low at 1.3887 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3865 mark.
A daily close above 1.3925 will test key resistances at 1.3942, 1.3988 and 1.4050 marks respectively.
Alternatively, a consistent close below 1.3864 will drag the parity down towards key supports at 1.3852, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 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 1.3900, stop loss 1.3865 and target of 1.3942/1.3988.
