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USD/SGD technical outlook

Pair is currently trading at 1.3934 levels. It made intraday high at 1.40 and low at 1.3905 levels. Intraday bias remains bearish till the time pair holds key resistance level at 1.40 levels. On the other side, key suppo…

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USD/SGD technical outlook
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  • Pair is currently trading at 1.3934 levels.
     
  • It made intraday high at 1.40 and low at 1.3905 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance level at 1.40 levels.
     
  • On the other side, key support falls at 1.3862 levels.
     
  • A daily close above key resistance will drag the parity towards 1.4284 levels.
     
  • In addition, 20, 30 and 55D EMA heads down, which confirms the bearish trend.

We prefer to take short position in USD/SGD around 1.3930, stop loss 1.4044 levels and target 1.3727 levels.

 

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