FxWirePro: USD/SGD remains well supported below 1.37 mark, downside limited
USD/SGD is currently trading around 1.3646 marks. It made intraday high at 1.3691 and low at 1.3644 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3698 marks. A daily close below 1.360…
It made intraday high at 1.3691 and low at 1.3644 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3698 marks.
A daily close below 1.3605 will drag the parity down towards key supports at 1.3538/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3698 will test key resistances at 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
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 1.3640 with stop loss at 1.3605 and target of 1.3698/1.3799.
