FxWirePro: USD/SGD finds support above 1.3500, good to buy on dips
USD/SGD is currently trading around 1.3513 marks. It made intraday high at 1.3524 and low at 1.3487 levels. Intraday bias remains bullish till the time pair holds key support at 1.3487 levels. A daily close below 1.3487 …
It made intraday high at 1.3524 and low at 1.3487 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3487 levels.
A daily close below 1.3487 will drag the parity down towards 1.3440/ 1.3404 levels.
Alternatively, reversal from key support will tests key resistances at 1.3525/1.3628/1. 3772/ 1.3817/ 1.3842 marks respectively.
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 long position in USD/SGD around 1.3505, stop loss 1.3481 and target 1.3628 levels.
