FxWirePro: USD/SGD back below 1.35 mark, good to sell on rallies
USD/SGD is currently trading around 1.3490 marks. It made intraday high at 1.3493 and low at 1.3488 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3497 mark. A daily close abo…
It made intraday high at 1.3493 and low at 1.3488 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3497 mark.
A daily close above 1.3497 will test key resistances at 1.3537, 1.3590, 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3457 will drag the parity down towards key supports at 1.3437, 1.3387, 1.3350 and 1.3267 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/SGD only around 1.3492, stop loss at 1.3513 and target of 1.3457/1.3437.
