FxWirePro: USD/SGD hits fresh 2-week high at 1.3564 mark, stay bullish
USD/SGD is currently trading around 1.3562 marks. It made intraday high at 1.3564 and low at 1.3553 levels. Intraday bias remains bullish till the time pair holds key support at 1.3500 mark. A daily close above 1.3558 wi…
It made intraday high at 1.3564 and low at 1.3553 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3500 mark.
A daily close above 1.3558 will test key resistances at 1.3570, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3558 will drag the parity down towards key supports at 1.3490, 1.3465, 1.3422 and 1.3315 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 1.3558, stop loss at 1.3520 and target of 1.3590.
