FxWirePro: USD/SGD back above 1.4350 mark, stay long
USD/SGD is currently trading around 1.4362 marks. It made intraday high at 1.4384 and low at 1.4343 levels. Intraday bias remains bullish till the time pair holds key support at 1.4290 mark. A daily close above 1.4360 wi…
It made intraday high at 1.4384 and low at 1.4343 levels.
Intraday bias remains bullish till the time pair holds key support at 1.4290 mark.
A daily close above 1.4360 will test key resistances at 1.4383, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
Alternatively, a consistent close below 1.4360 will drag the parity down towards key supports at 1.4304, 1.4250, 1.4208, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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 1.4350, stop loss at 1.4300 and target of 1.4444.
