FxWirePro: USD/SGD trades in narrow range, stay neutral
USD/SGD is currently trading around 1.3628 marks. It made intraday high at 1.3639 and low at 1.3625 levels. Intraday bias remains neutral till the time pair holds key support at 1.3599 mark. A daily close above 1.3630 wi…
It made intraday high at 1.3639 and low at 1.3625 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3599 mark.
A daily close above 1.3630 will test key resistances at 1.3672 and 1.3740 marks respectively.
Alternatively, a consistent close below 1.3599 will drag the parity down towards key supports at 1.3570, 1.3522, 1.3490 and 1.3422 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on USD/SGD only below 1.3599, stop loss at 1.3640 and target of 1.3570/1.3522.
