Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

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

  • USD/SGD is currently trading around 1.4198 marks.
     
  • It made intraday high at 1.4217 and low at 1.4188 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1.4260 mark. 
     
  • A daily close above 1.4212 will test key resistances at 1.4260, 1.4311, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
     
  • Alternatively, a consistent close below 1.4212 will drag the parity down towards key supports at 1.4147/1.4110/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 trend correction only.

We prefer to take long position in USD/SGD only above 1.4212, stop loss 1.4147 and target of 1.4318.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.