FxWirePro: USD/SGD stabilizes below 1.43 mark, Singapore’s CPI data in focus
USD/SGD is currently trading around 1.4265 marks. It made intraday high at 1.4299 and low at 1.4265 levels. Intraday bias remains slightly bearish till the time pair holds key resistance at 1.4318 mark. A daily close abo…
It made intraday high at 1.4299 and low at 1.4265 levels.
Intraday bias remains slightly bearish till the time pair holds key resistance at 1.4318 mark.
A daily close above 1.4318 will test key resistances at 1.4360, 1.4444, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
Alternatively, a consistent close below 1.4277 will drag the parity down towards key supports at 1.4250, 1.4182, 1.4150, 1.4097, 1.4062, 1.3938 and 1.3870 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Singapore will release CPI data around 0500 GMT.
We prefer to take short position on USD/SGD around 1.4275, stop loss at 1.43 and target of 1.4182.
