FxWirePro: USD/SGD faces strong resistance at 1.3823, a daily close above targets 1.3895
USD/SGD is currently trading around 1.3809 marks. It made intraday high at 1.3816 and low at 1.3773 levels. Intraday bias remains neutral till the time pair holds key support at 1.3772 levels. A sustained close above 1.3…
It made intraday high at 1.3816 and low at 1.3773 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3772 levels.
A sustained close above 1.3823 tests key resistances at 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3772 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 short position in USD/SGD around 1.38, stop loss 1.3841 and target 1.3772/ 1.3628 marks.
