FxWirePro: USD/SGD remains well supported below 1.3780 mark, short term trend reversal likely
USD/SGD is currently trading around 1.3758 marks. It made intraday high at 1.3778 and low at 1.3752 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3780 mark. A daily close abo…
It made intraday high at 1.3778 and low at 1.3752 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3780 mark.
A daily close above 1.3780 will test key resistances at 1.3813, 1.3854 and 1.3945 marks respectively.
Alternatively, a consistent close below 1.3780 will drag the parity down towards key supports at 1.3690, 1.3650, 1.3625, 1.3599, 1.3570, 1.3522, 1.3490 and 1.3422 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 only above 1.3780, stop loss at 1.3720 and target of 1.3854.
