FxWirePro: USD/SGD back below 1.35 mark, good to sell on rallies
USD/SGD is currently trading around 1.3492 marks. It made intraday high at 1.3528 and low at 1.3484 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3538 marks. A daily close below 1.343…
It made intraday high at 1.3528 and low at 1.3484 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3538 marks.
A daily close below 1.3432 will drag the parity down towards key supports at 1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3538 will tests key resistances at 1.3646, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend.
We prefer to take short position in USD/SGD around 1.35, stop loss 1.3538 and target 1.3410/ 1.3370 marks.
