FxWirePro: USD/SGD hits fresh 2-week high at 1.3264 mark, bias remains bullish
USD/SGD is currently trading around 1.3256 marks. It made intraday high at 1.3264 and low at 1.3236 levels. Intraday bias remains bullish till the time pair holds key support at 1.3232 mark. A daily close above 1.3242 wi…
It made intraday high at 1.3264 and low at 1.3236 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3232 mark.
A daily close above 1.3242 will test key resistances at 1.3290, 1.3340, 1.3438 and 1.3532 levels respectively.
Alternatively, a consistent close below 1.3242 will drag the parity down towards key support at 1.3132/1.3090/1.3005/1.2855/1.2754 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on USD/SGD around 1.3245, stop loss at 1.3190 and target of 1.3290/1.3340.
