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FxWirePro: USD/SGD trades in narrow range, bias remains neutral

Tuesday, May 15, 2018 3:25 AM UTC

USD/SGD is currently trading around 1.3357 marks.
It made intraday high at 1.3367 and low at 1.3349 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3338 mark.
A daily close above 1.3359 will test key resistances at 1.3438, 1.3482, 1.3532 and 1.3587 levels respectively.
Alternatively, a consistent close below 1.3338 will drag the parity down towards key support at 1.3311/1.3255/1.3218/1.3150/1.3076/1.3005 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 1.3310 and target of 1.3438.

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FxWirePro: USD/SGD trades in narrow range, bias remains neutral

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