FxWirePro: USD/SGD breaks key resistance at 1.3740, good to buy on dips
USD/SGD is currently trading around 1.3735 marks. It made intraday high at 1.3747 and low at 1.3685 levels. Intraday bias remains bullish till the time pair holds key support at 1.3698. A sustained close above 1.3740 tes…
It made intraday high at 1.3747 and low at 1.3685 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3698.
A sustained close above 1.3740 tests key resistances at 1.3772 (July 31, 2015 high)/ 1.3817/ 1.3842 (March 08, 2016 high) marks respectively.
On the other side, a daily close below 1.3698 will drag the parity down towards key supports 1.3628 (55D EMA) /1.3548/1.3420 (April 13, 2016 low) /1.3357 (April 20, 2016 low) /1.3318/1.3302 levels.
We prefer to take long position in USD/SGD only above 1.3740, stop loss 1.3695 and target 1.3772/ 1.3817 marks.
