FxWirePro: USD/SGD hovers around 1.35 mark, sustained close above requires for upside rally
USD/SGD is currently trading around 1.3500 marks. It made intraday high at 1.3506 and low at 1.3486 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1.3457 mark. A daily close above …
It made intraday high at 1.3506 and low at 1.3486 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1.3457 mark.
A daily close above 1.3497 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 1.3437, 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.
We prefer to take long position on USD/SGD only above 1.3525, stop loss at 1.3467 and target of 1.3590.
