FxWirePro: USD/SGD hovers around 1.35 mark, stay long only above 1.3511
USD/SGD is currently trading around 1.3503 marks. It made intraday high at 1.3511 and low at 1.3495 levels. Intraday bias remains bullish till the time pair holds key support at 1.3457 mark. A daily close above 1.3500 wi…
It made intraday high at 1.3511 and low at 1.3495 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3457 mark.
A daily close above 1.3500 will test key resistances at 1.3537, 1.3590, 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3457 will drag the parity down towards key supports at 1.3387, 1.3350 and 1.3267 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 only above 1.3511, stop loss at 1.3470 and target of 1.3537/1.3590.
