FxWirePro: USD/SGD rejects key support at 1.3510, bias turns bullish
USD/SGD is currently trading around 1.3581 marks. It made intraday high at 1.3583 and low at 1.3554 levels. Intraday bias remains bullish till the time pair holds key support at 1.3510 marks. A daily close below 1.3510 w…
It made intraday high at 1.3583 and low at 1.3554 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3510 marks.
A daily close below 1.3510 will drag the parity down towards key supports at 1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3605 will test key resistances at 1.3698, 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/SGD around 1.3565 with stop loss at 1.3510 and target of 1.3638/1.3698.
