FxWirePro: USD/SGD hits fresh 15-week high at 1.3720, faces key resistance at 1.3774
USD/SGD is currently trading around 1.3707 marks. It made intraday high at 1.3720 and low at 1.3700 levels. Intraday bias remains bullish till the time pair holds key support at 1.3646 marks. A sustained close above 1.37…
It made intraday high at 1.3720 and low at 1.3700 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3646 marks.
A sustained close above 1.37 will test key resistances at 1.3732, 1.3774, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Alternatively, a daily close below 1.37 will drag the parity down towards key supports at 1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/SGD only above 1.3720 with stop loss at 1.3646 and target of 1.3774/1.3836.
