FxWirePro: USD/SGD stabilizes around 1.3950 mark, faces strong resistance at 1.3964
USD/SGD is currently trading around 1.3950 marks. It made intraday high at 1.3957 and low at 1.3935 levels. Intraday bias remains bullish till the time pair holds key support at 1.3876 marks. A sustained close above 1.39…
It made intraday high at 1.3957 and low at 1.3935 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3876 marks.
A sustained close above 1.3964 will test key resistances at 1.4045, 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
Alternatively, a consistent break below 1.3876 will drag the parity down towards key supports at 1.3839/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Singapore Q3 private home prices -1.5 pct Q/Q; vs flash estimate of -1.5 pct.
We prefer to go long on USD/SGD only above 1.3964 with stop loss at 1.3876 and target of 1.4045.
