FxWirePro: USD/SGD trades in narrow range, stay bearish only below 1.3538 mark
USD/SGD is currently trading around 1.3558 marks. It made intraday high at 1.3567 and low at 1.3551 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1.3538 mark. A daily close above …
It made intraday high at 1.3567 and low at 1.3551 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1.3538 mark.
A daily close above 1.3565 will test key resistances at 1.3570, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3565 will drag the parity down towards key supports at 1.3538, 1.3490, 1.3422, 1.3378 and 1.3315 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 short position on USD/SGD only below 1.3538, stop loss at 1.3570 and target of 1.3490/1.3422.
