FxWirePro: USD/SGD hits fresh 2 –month low at 1.3357, sustain break below targets 1.3271 mark
USD/SGD is currently trading around 1.3368 marks. It made intraday high at 1.3380 and low at 1.3357 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3437 levels. A daily close below 1.33…
It made intraday high at 1.3380 and low at 1.3357 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3437 levels.
A daily close below 1.3357 (April 20, 2016 low) will drag the parity down towards key supports at 1.3318/1.3302/ 1.3271 levels.
Alternatively, reversal from key support will test key resistances at 1.3437, 1.3493, 1.3622, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend.
We prefer to take short position in USD/SGD only below 1.3357, stop loss 1.3437 and target 1.3271 marks.
