FxWirePro: USD/SGD trades flat at 1.3615 mark, sustained close above requires for upside rally
USD/SGD is currently trading around 1.3615 marks. It made intraday high at 1.3625 and low at 1.3613 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1.3590 marks. A daily close above…
It made intraday high at 1.3625 and low at 1.3613 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1.3590 marks.
A daily close above 1.3615 will test key resistances at 1.3638, 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
Alternatively, a consistent close below 1.3598 will drag the parity down towards key supports at 1.3570, 1.3512, 1.3454, 1.3388 and 1.3320 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/SGD only above 1.3633, stop loss at 1.3590 and target of 1.3680.
