FxWirePro: USD/SGD hovers around 1.37 mark, downside limited
USD/SGD is currently trading around 1.3694 marks. It made intraday high at 1.3707 and low at 1.3688 levels. Intraday bias remains neutral for the moment. A daily close above 1.3702 will test key resistances at 1.3738, 1.…
It made intraday high at 1.3707 and low at 1.3688 levels.
Intraday bias remains neutral for the moment.
A daily close above 1.3702 will test key resistances at 1.3738, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
Alternatively, a consistent close below 1.3702 will drag the parity down towards key supports at 1.3670, 1.3640, 1.3590, 1.3550, 1.3512 and 1.3454 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/SGD around 1.3690, stop loss at 1.3668 and target of 1.3738/1.3760.
