FxWirePro: USD/SGD back above 1.3100 mark, bias remains neutral
USD/SGD is currently trading around 1.3119 marks. It made intraday high at 1.3137 and low at 1.3117 levels. Intraday bias remains neutral for the moment. A daily close above 1.3123 will test key resistances at 1.3172, 1.…
It made intraday high at 1.3137 and low at 1.3117 levels.
Intraday bias remains neutral for the moment.
A daily close above 1.3123 will test key resistances at 1.3172, 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
Alternatively, a consistent close below 1.3123 will drag the parity down towards key support at 1.3052/1.3005/1.2855/1.2754 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
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.
