USD/SGD is currently trading around 1.3796 marks. It made intraday high at 1.3818 and low at 1.3794 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3830 mark. A daily close above 1.3800…
It made intraday high at 1.3818 and low at 1.3794 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3830 mark.
A daily close above 1.3800 will test key resistances at 1.3830, 1.3868, 1.3918, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
Alternatively, a consistent close below 1.3800 will drag the parity down towards key supports at 1.3776/1.3704/1.3631 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 in USD/SGD around 1.3800, stop loss 1.3830 and target of 1.3704.
