FxWirePro: USD/SGD hovers around 1.32 mark, upside limited
USD/SGD is currently trading around 1.3195 marks. It made intraday high at 1.3208 and low at 1.3180 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3232 mark. A daily close above 1.3198…
It made intraday high at 1.3208 and low at 1.3180 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3232 mark.
A daily close above 1.3198 will test key resistances at 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
Alternatively, a consistent close below 1.3198 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.
We prefer to take short position on USD/SGD around 1.3200, stop loss at 1.3232 and target of 1.3090.
