FxWirePro: USD/SGD trades in narrow range, bias remains neutral
USD/SGD is currently trading around 1.3628 marks. It made intraday high at 1.3638 and low at 1.3620 levels. Intraday bias remains neutral till the time pair holds key support at 1.3587 mark. A daily close above 1.3630 wi…
It made intraday high at 1.3638 and low at 1.3620 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3587 mark.
A daily close above 1.3630 will test key resistances at 1.3645, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
Alternatively, a consistent close below 1.3630 will drag the parity down towards key supports at 1.3587/1.3545/1.3512/1.3435/1.3347 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
