FxWirePro: USD/SGD remains well supported above 1.35 mark, stay bullish
USD/SGD is currently trading around 1.3555 marks. It made intraday high at 1.3565 and low at 1.3542 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1.3502 mark. A daily close above …
It made intraday high at 1.3565 and low at 1.3542 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1.3502 mark.
A daily close above 1.3545 will test key resistances at 1.3574, 1.3622, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
Alternatively, a consistent close below 1.3545 will drag the parity down towards key supports at 1.3502/1.3460/1.3401/1.3346/1.3217/1.3164/1.3005 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only
We prefer to take long position in USD/SGD around 1.3550, stop loss 1.3502 and target of 1.3622.