FxWirePro: USD/SGD fails to break key support at 1.3454 mark, upside limited
USD/SGD is currently trading around 1.3490 marks. It made intraday high at 1.3507 and low at 1.3483 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3538 mark. A daily close above 1.3490…
It made intraday high at 1.3507 and low at 1.3483 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3538 mark.
A daily close above 1.3490 will test key resistances at 1.3538, 1.3570, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3490 will drag the parity down towards key supports at 1.3454, 1.3422, 1.3378 and 1.3315 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 around 1.3490, stop loss at 1.3538 and target of 1.3454/1.3422.
