FxWirePro: USD/SGD fails to find support below 1.3830 mark, good to buy on dips
USD/SGD is currently trading around 1.3854 marks. It made intraday high at 1.3861 and low at 1.3829 levels. Intraday bias remains slightly bullish for the moment. A daily close above 1.3830 will test key resistances at 1…
It made intraday high at 1.3861 and low at 1.3829 levels.
Intraday bias remains slightly bullish for the moment.
A daily close above 1.3830 will test key resistances at 1.3870, 1.3950, 1.4010, 1.4054, 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
Alternatively, a consistent close below 1.3830 will drag the parity down towards key supports at 1.3822, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/SGD around 1.3845, stop loss 1.3827 and target of 1.39/1.3950.
