FxWirePro: USD/SGD back above 1.37 mark, good to buy on dips
USD/SGD is currently trading around 1.3705 marks. It made intraday high at 1.3737 and low at 1.3685 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3745 levels. A daily close above 1.37…
It made intraday high at 1.3737 and low at 1.3685 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.3745 levels.
A daily close above 1.3705 will test key resistances at 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
Alternatively, a consistent close below 1.3705 will drag the parity down towards key support at 1.3670/1.3587/1.3530/1.3496/1.3430/1.3390 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 1.3690, stop loss at 1.3640 and target of 1.3745/1.3788.
