FxWirePro: USD/SGD remains well supported above 1.38 mark, good to buy on dips
USD/SGD is currently trading around 1.3886 marks. It made intraday high at 1.3895 and low at 1.3854 levels. Intraday bias remains bullish till the time pair holds key support at 1.3839 marks. A sustained close above 1.38…
It made intraday high at 1.3895 and low at 1.3854 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3839 marks.
A sustained close above 1.3895 will test key resistances at 1.3929, 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
Alternatively, a consistent break below 1.3839 will drag the parity down towards key supports at 1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
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 1.3870 with stop loss at 1.3839 and target of 1.4068.
