FxWirePro: USD/SGD hovers around 1.36 mark; stay bullish
USD/SGD is currently trading around 1.3599 marks. It made intraday high at 1.3605 and low at 1.3583 levels. Intraday bias remains bullish till the time pair holds initial support at 1.3533 marks. A sustained close above …
It made intraday high at 1.3605 and low at 1.3583 levels.
Intraday bias remains bullish till the time pair holds initial support at 1.3533 marks.
A sustained close above 1.3605 will test key resistances at 1.3653, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3580 will drag the parity down towards key supports at 1.3533/1.3488/1.3452/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
We prefer to go long on USD/SGD only above 1.3605 with stop loss at 1.3562 and target of 1.3799.
