FxWirePro: USD/SGD fails to find support above 1.36, good to sell on rallies
USD/SGD is currently trading around 1.3543 marks. It made intraday high at 1.3560 and low at 1.3539 levels. Intraday bias remains bearish till the time pair holds initial resistance at 1.3628 levels. A sustained close ab…
It made intraday high at 1.3560 and low at 1.3539 levels.
Intraday bias remains bearish till the time pair holds initial resistance at 1.3628 levels.
A sustained close above 1.3628 tests key resistances at 1.3772/ 1.3817/ 1.3842 marks respectively.
On the other side, a daily close below 1.3516 will drag the parity down towards 1.3487/1.3415/1.3318 levels.
Important to note here that, 20D, 30D and 55D EMA heads down in daily chart and confirms bearish trend. A current rebound is short term correction only.
We prefer to take short position in USD/SGD around 1.3552, stop loss 1.3628 and target 1.3487/1.3415 marks.
