FxWirePro: USD/SGD takes halt around 1.3370 mark, downside limited
USD/SGD is currently trading around 1.3344 marks. It made intraday high at 1.3367 and low at 1.3336 levels. Intraday bias remains neutral till the time pair holds immediate resistance at 1.3370 mark. A daily close above …
It made intraday high at 1.3367 and low at 1.3336 levels.
Intraday bias remains neutral till the time pair holds immediate resistance at 1.3370 mark.
A daily close above 1.3364 will test key resistances at 1.3438, 1.3482, 1.3532 and 1.3587 levels respectively.
Alternatively, a consistent close below 1.3364 will drag the parity down towards key support at 1.3315/1.3255/1.3218/1.3150/1.3076/1.3005 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 long position on USD/SGD only above 1.3370, stop loss 1.3315 and target of 1.3482.