FxWirePro: USD/SGD trades in narrow range, bias remains neutral
USD/SGD is currently trading around 1.3580 marks. It made intraday high at 1.3594 and low at 1.3574 levels. Intraday bias remains neutral till the time pair holds key support at 1.3576 mark. A daily close above 1.3590 wi…
It made intraday high at 1.3594 and low at 1.3574 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3576 mark.
A daily close above 1.3590 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3576 will drag the parity down towards key supports at 1.3522, 1.3490, 1.3447 and 1.3387 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 1.3611, stop loss at 1.3575 and target of 1.3637/1.3670.
