FxWirePro: USD/SGD hovers around 1.3500, intraday bias remains neutral
USD/SGD is currently trading around 1.3502 marks. It made intraday high at 1.3506 and low at 1.3457 levels. Intraday bias remains neutral till the time pair holds initial resistance at 1.3524 levels. A daily close below …
It made intraday high at 1.3506 and low at 1.3457 levels.
Intraday bias remains neutral till the time pair holds initial resistance at 1.3524 levels.
A daily close below 1.3415 will drag the parity down towards 1.3318 levels.
Alternatively, reversal from key support will tests key resistances at 1.3525/1.3628/1. 3772/ 1.3817/ 1.3842 marks respectively.
Important to note here that, 20D, 30D and 55D EMA heads down in daily chart and confirms bearish trend. A current rebound is short term correction only.
Today Singapore released URA property index at -0.7% q/q vs -0.5% q/q previous release.
We prefer to take long position in USD/SGD around 1.3505, stop loss 1.3481 and target 1.3628 levels.
