FxWirePro: USD/SGD stabilizes below 1.3550 mark, Singapore’s manufacturing PMI data in focus
USD/SGD is currently trading around 1.3541 marks. It made intraday high at 1.3558 and low at 1.3537 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3570 mark. A daily close abo…
It made intraday high at 1.3558 and low at 1.3537 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3570 mark.
A daily close above 1.3549 will test key resistances at 1.3570, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3549 will drag the parity down towards key supports at 1.3538, 1.3490, 1.3422, 1.3378 and 1.3315 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Singapore will release manufacturing PMI data around 1300 GMT.
We prefer to take short position on USD/SGD only below 1.3530, stop loss at 1.3570 and target of 1.3490/1.3422.
