FxWirePro: USD/SGD trades in narrow range, stay bullish only above 1.3610 mark
USD/SGD is currently trading around 1.3590 marks. It made intraday high at 1.3595 and low at 1.3586 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3610 mark. A daily close above 1.3590…
It made intraday high at 1.3595 and low at 1.3586 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.3610 mark.
A daily close above 1.3590 will test key resistances at 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3590 will drag the parity down towards key supports at 1.3538, 1.3499, 1.3465, 1.3422 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 long position on USD/SGD only above 1.3610, stop loss at 1.3575 and target of 1.3675.
