FxWirePro: USD/SGD trades in narrow range, upside limited
USD/SGD is currently trading around 1.3575 marks. It made intraday high at 1.3587 and low at 1.3573 levels. Intraday bias remains slightly bullish till the time pair holds key support at 1.3550 marks. A daily close above…
It made intraday high at 1.3587 and low at 1.3573 levels.
Intraday bias remains slightly bullish till the time pair holds key support at 1.3550 marks.
A daily close above 1.3570 will test key resistances at 1.3638, 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
Alternatively, a consistent close below 1.3550 will drag the parity down towards key supports at 1.3512, 1.3454, 1.3388 and 1.3320 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 1.3568, stop loss at 1.3590 and target of 1.3512.
