USD/SGD is currently trading around 1.4185 marks. It made intraday high at 1.4208 and low at 1.4179 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.4232 marks. A daily close above 1.420…
It made intraday high at 1.4208 and low at 1.4179 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4232 marks.
A daily close above 1.4205 will test key resistances at 1.4232, 1.4327, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
Alternatively, a consistent close below 1.4205 will drag the parity down towards key supports at 1.4170/1.4083/1.3972/1.3819/1.3775/1.3704/1.3646 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position in USD/SGD only above 1.4205, stop loss at 1.4170 and target of 1.4327.
