FxWirePro: USD/SGD spikes up in early Asia, hits highest level since May 2017
USD/SGD is currently trading around 1.4004 marks. It made intraday high at 1.4087 and low at 1.3938 levels. Intraday bias remains bullish till the time pair holds key support at 1.3942 mark. A daily close above 1.3945 wi…
It made intraday high at 1.4087 and low at 1.3938 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3942 mark.
A daily close above 1.3945 will test key resistances at 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
Alternatively, a consistent close below 1.3942 will drag the parity down towards key supports at 1.3852, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 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 around 1.3970, stop loss 1.3895 and target of 1.4128/1.4188/1.4234.
