FxWirePro: USD/SGD hits fresh monthly high at 1.3828, a break above targets 1.3851
USD/SGD is currently trading around 1.3801 marks. It made intraday high at 1.3828 and low at 1.3801 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3828 levels. A sustained close above …
It made intraday high at 1.3828 and low at 1.3801 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3828 levels.
A sustained close above 1.3828 tests key resistances at 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3785 will drag the parity down towards key supports 1.3628 (55D EMA) /1.3548/1.3420 (April 13, 2016 low) /1.3357 (April 20, 2016 low) /1.3318/1.3302 levels.
We prefer to take long position in USD/SGD around 1.38, stop loss 1.3751 and target 1.3851/ 1.4073 levels.
