FxWirePro: USD/SGD stabilizes above 1.42 mark, good to buy on dips
USD/SGD is currently trading around 1.4222 marks. It made intraday high at 1.4228 and low at 1.4201 levels. Intraday bias remains bullish till the time pair holds key support at 1.4171 marks. A sustained close above 1.42…
It made intraday high at 1.4228 and low at 1.4201 levels.
Intraday bias remains bullish till the time pair holds key support at 1.4171 marks.
A sustained close above 1.4270 will test key resistances at 1.4335, 1.4443, 1.4481 and 1.4556 levels respectively.
Alternatively, a consistent close below 1.4171 will drag the parity down towards key supports at 1.4128/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 in USD/SGD around 1.4220, stop loss at 1.4177 and target of 1.4270/1.4335.
