FxWirePro: USD/SGD back above 1.3650 mark, Singapore’s industrial production data in focus
USD/SGD is currently trading around 1.3651 marks. It made intraday high at 1.3655 and low at 1.3641 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1.3620 mark. A daily close above …
It made intraday high at 1.3655 and low at 1.3641 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1.3620 mark.
A daily close above 1.3648 will test key resistances at 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3648 will drag the parity down towards key supports at 1.3620, 1.3606, 1.3590, 1.3570, 1.3522, 1.3490, 1.3447 and 1.3387 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Singapore will release industrial production data around 0500 GMT.
We prefer to take long position on USD/SGD around 1.3650, stop loss at 1.3620 and target of 1.3670/1.3706.
