USD/SGD is currently trading around 1.3772 marks. It made intraday high at 1.3795 and low at 1.3769 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3838 mark. A daily close above 1.3790…
It made intraday high at 1.3795 and low at 1.3769 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3838 mark.
A daily close above 1.3790 will test key resistances at 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
Alternatively, a consistent close below 1.3790 will drag the parity down towards key supports at 1.3747/1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take short position on USD/SGD only below 1.3750, stop loss at 1.3790 and target of 1.3690.
