FxWirePro: USD/SGD fails to find support below 1.3450 mark, further sideways movement likely
USD/SGD is currently trading around 1.3474 marks. It made intraday high at 1.3478 and low at 1.3467 levels. Intraday bias remains neutral till the time pair holds key support at 1.3457 mark. A daily close above 1.3475 wi…
It made intraday high at 1.3478 and low at 1.3467 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3457 mark.
A daily close above 1.3475 will test key resistances at 1.3490, 1.3537, 1.3590, 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3457 will drag the parity down towards key supports at 1.3437, 1.3387, 1.3350 and 1.3267 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 long position on USD/SGD only above 1.3492, stop loss at 1.3460 and target of 1.3537/1.3590.
