FxWirePro: USD/SGD rejects key support at 1.3938 mark, bias turns bullish again
USD/SGD is currently trading around 1.3980 marks. It made intraday high at 1.3990 and low at 1.3942 levels. Intraday bias remains bullish till the time pair holds key support at 1.3938 mark. A daily close above 1.3950 wi…
It made intraday high at 1.3990 and low at 1.3942 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3938 mark.
A daily close above 1.3950 will test key resistances at 1.4010, 1.4054, 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
Alternatively, a consistent close below 1.3938 will drag the parity down towards key supports at 1.39, 1.3852, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/SGD around 1.3975, stop loss 1.3938 and target of 1.4010/1.4054.
