Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Singapore dollar falls drastically in early Asia; hits lowest level since Dec 11, 2019

  • USD/SGD is currently trading around 1.3580 marks.
     
  • It made intraday high at 1.3585 and low at 1.3570 levels.
     
  • Intraday bias remains bullish for the moment.
     
  • A daily close above 1.3576 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
     
  • Alternatively, a consistent close below 1.3487 will drag the parity down towards key supports at 1.3457, 1.3387, 1.3350 and 1.3267 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position on USD/SGD around 1.3570, stop loss at 1.3550 and target of 1.3637/1.3670.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.