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FxWirePro: USD/SGD remains well supported below 1.3648, consistent break above targets 1.3799

USD/SGD is currently trading around 1.3635 marks. It made intraday high at 1.3647 and low at 1.3626 levels. Intraday bias remains neutral till the time pair holds initial resistance at 1.3648 marks. A sustained close abo…

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FxWirePro: USD/SGD remains well supported below 1.3648, consistent break above targets 1.3799
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  • USD/SGD is currently trading around 1.3635 marks.
     
  • It made intraday high at 1.3647 and low at 1.3626 levels.
     
  • Intraday bias remains neutral till the time pair holds initial resistance at 1.3648 marks. 
     
  • A sustained close above 1.3648 will test key resistances at 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
     
  • On the other side, a daily close below 1.3585 will drag the parity down towards key supports at 1.3488/1.3452/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.

We prefer to go long on USD/SGD only above 1.3648 with stop loss at 1.3585 and target of 1.3799.

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