USD/SGD is currently trading around 1.3619 marks. It made intraday high at 1.3627 and low at 1.3609 levels. Intraday bias remains neutral for the moment. A daily close above 1.3617 will test key resistances at 1.3637, 1.…
It made intraday high at 1.3627 and low at 1.3609 levels.
Intraday bias remains neutral for the moment.
A daily close above 1.3617 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3617 will drag the parity down towards key supports at 1.3590, 1.3550, 1.3457, 1.3387, 1.3350 and 1.3267 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on USD/SGD around 1.3610, stop loss at 1.3590 and target of 1.3670.
