FxWirePro: USD/SGD trades almost flat in early Asia, stay bullish only above 1.3704 mark
USD/SGD is currently trading around 1.3685 marks. It made intraday high at 1.3696 and low at 1.3679 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3704 mark. A daily close above 1.3704…
It made intraday high at 1.3696 and low at 1.3679 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.3704 mark.
A daily close above 1.3704 will test key resistances at 1.3740, 1.3768, 1.3813 and 1.3854 marks respectively.
Alternatively, a consistent close below 1.3680 will drag the parity down towards key supports at 1.3625, 1.3599, 1.3570, 1.3522, 1.3490 and 1.3422 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 1.3704, stop loss at 1.3650 and target of 1.3768.
