FxWirePro: USD/SGD remains well supported above 1.36 mark, downside limited
USD/SGD is currently trading around 1.3647 marks. It made intraday high at 1.3649 and low at 1.3624 levels. Intraday bias remains bullish for the moment. A daily close above 1.3626 will test key resistances at 1.3687, 1.…
It made intraday high at 1.3649 and low at 1.3624 levels.
Intraday bias remains bullish for the moment.
A daily close above 1.3626 will test key resistances at 1.3687, 1.3732, 1.3788 and 1.3854 levels respectively.
Alternatively, a consistent close below 1.3626 will drag the parity down towards key support at 1.3592/1.3551/1.3502/1.3430/1.3390 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 1.3640, stop loss 1.3610 and target of 1.3732.
