USD/SGD is currently trading around 1.3847 marks. It made intraday high at 1.3864 and low at 1.3843 levels. Intraday bias remains neutral for the moment. A daily close above 1.3845 will test key resistances at 1.3884, 1.…
It made intraday high at 1.3864 and low at 1.3843 levels.
Intraday bias remains neutral for the moment.
A daily close above 1.3845 will test key resistances at 1.3884, 1.3918, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
Alternatively, a consistent close below 1.3845 will drag the parity down towards key supports at 1.3806/1.3776/1.3704/1.3631 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 short position in USD/SGD only below 1.3808, stop loss 1.3884 and target of 1.3704.
