FxWirePro: USD/SGD hits fresh 5-month high at 1.3707 mark, stay bullish
USD/SGD is currently trading around 1.3692 marks. It made intraday high at 1.3707 and low at 1.3687 levels. Intraday bias remains bullish till the time pair holds key support at 1.3625 mark. A daily close above 1.3707 wi…
It made intraday high at 1.3707 and low at 1.3687 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3625 mark.
A daily close above 1.3707 will test key resistances at 1.3740, 1.3768, 1.3813 and 1.3854 marks respectively.
Alternatively, a consistent close below 1.3707 will drag the parity down towards key supports at 1.3625, 1.3599, 1.3570, 1.3522, 1.3490 and 1.3422 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position on USD/SGD only above 1.3707, stop loss at 1.3650 and target of 1.3768.
