FxWirePro: USD/SGD rejects key resistance at 1.3590 mark, stay bearish only below 1.3548
USD/SGD is currently trading around 1.3562 marks. It made intraday high at 1.3569 and low at 1.3552 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3590 mark. A daily close abo…
It made intraday high at 1.3569 and low at 1.3552 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3590 mark.
A daily close above 1.3565 will test key resistances at 1.3590, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3565 will drag the parity down towards key supports at 1.3538, 1.3490, 1.3465, 1.3422 and 1.3315 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/SGD only below 1.3548, stop loss at 1.3590 and target of 1.3490.
