FxWirePro: USD/SGD moves in rigid boundaries, bias remains neutral
USD/SGD is currently trading around 1.3096 marks. It made intraday high at 1.3129 and low at 1.3088 levels. Intraday bias remains neutral for the moment. A daily close above 1.3115 will test key resistances at 1.3176, 1.…
It made intraday high at 1.3129 and low at 1.3088 levels.
Intraday bias remains neutral for the moment.
A daily close above 1.3115 will test key resistances at 1.3176, 1.3208, 1.3254, 1.3302, 1.3353, 1.3438 and 1.3532 levels respectively.
Alternatively, a consistent close below 1.3072 will drag the parity down towards key support at 1.3005/1.2855/1.2754 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
