FxWirePro: USD/SGD jumps above 1.43 mark in early Asia; hits highest level since Jan 02, 2017
USD/SGD is currently trading around 1.4278 marks. It made intraday high at 1.4315 and low at 1.4266 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.4292 mark. A daily close above 1.4292…
It made intraday high at 1.4315 and low at 1.4266 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.4292 mark.
A daily close above 1.4292 will test key resistances at 1.4357, 1.4426, 1.4546 and 1.47 marks respectively.
Alternatively, a consistent close below 1.4292 will drag the parity down towards key supports at 1.4210, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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 1.4270, stop loss 1.4250 and target of 1.4357/1.4426.
