FxWirePro: USD/SGD hovers around 1.34 mark; stay bullish above 1.3430
USD/SGD is currently trading around 1.3405 marks. It made intraday high at 1.3430 and low at 1.3387 levels. Intraday bias remains bullish till the time pair holds key support at 1.3387 marks. A daily close below 1.3387 w…
It made intraday high at 1.3430 and low at 1.3387 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3387 marks.
A daily close below 1.3387 will drag the parity down towards key supports at 1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3430 will test key resistances at 1.3537, 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
We prefer to take long position in USD/SGD only above 1.3430, stop loss 1.3387 and target 1.3537.
