FxWirePro: USD/SGD rejects key resistance at 1.3670 mark, good to sell on rallies
USD/SGD is currently trading around 1.3654 marks. It made intraday high at 1.3668 and low at 1.3654 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3670 mark. A daily close abo…
It made intraday high at 1.3668 and low at 1.3654 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3670 mark.
A daily close above 1.3675 will test key resistances at 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3665 will drag the parity down towards key supports at 1.3622, 1.3606, 1.3590, 1.3570, 1.3522, 1.3490, 1.3447 and 1.3387 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 around 1.3660, stop loss at 1.3690 and target of 1.3590.
