FxWirePro: USD/SGD fails to find support below 1.3785 mark, Singapore’s forex reserve data in focus
USD/SGD is currently trading around 1.3809 marks. It made intraday high at 1.3809 and low at 1.3785 levels. Intraday bias remains bullish till the time pair holds key support at 1.3785 mark. A daily close above 1.3785 wi…
It made intraday high at 1.3809 and low at 1.3785 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3785 mark.
A daily close above 1.3785 will test key resistances at 1.3855, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3785 will drag the parity down towards key supports at 1.3738, 1.3667, 1.3622 and 1.3580 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Singapore will release forex reserves data around 0900 GMT.
We prefer to take long position on USD/SGD around 1.3805, stop loss at 1.3780 and target of 1.3855/1.3913.
