FxWirePro: USD/SGD breaks key resistance at 1.3851, bias remains bullish
USD/SGD is currently trading around 1.3853 marks. It made intraday high at 1.3867 and low at 1.3832 levels. Intraday bias remains bullish till the time pair holds key support at 1.3747 marks. A sustained close above 1.38…
It made intraday high at 1.3867 and low at 1.3832 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3747 marks.
A sustained close above 1.3851 will test key resistances at 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Alternatively, a consistent break below 1.3747 will drag the parity down towards key supports at 1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/SGD only above 1.3867 with stop loss at 1.3747 and target of 1.4073.
