USD/SGD faces strong resistance at 1.3817, a break above targets 1.3895
USD/SGD is hovers around 1.3800 levels and trading around 1.3805 marks. It made intraday high at 1.3816 and low at 1.3800 levels. Intraday bias remains neutral for the moment. On the other side, a sustained break above 1…
USD/SGD is hovers around 1.3800 levels and trading around 1.3805 marks.
It made intraday high at 1.3816 and low at 1.3800 levels.
Intraday bias remains neutral for the moment.
On the other side, a sustained break above 1.3817 is required to confirm some more upside movement and drag the parity towards initial resistances at 1.3842/1.3895/1.3964 marks thereafter.
Alternatively, reversal from key resistance will drag the parity down towards 1.3723 marks and daily close below key support at1.3699 will take the parity towards 1.3623 and 1.3486 marks thereafter.
Key resistance falls at 1.40 marks and pair likely to consolidate below this level.
Important to note here that overall trend remains bearish as 20D, 30D and 55D EMA heads down and signals bearish trend.
Trade idea: Go short in USD/SGD at 1.3805, stop loss 1.3827 and target 1.3755/1.3699 marks.
