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FxWirePro: Singapore dollar trades marginally lower in early Asia, faces immediate resistance at 1.3899 mark

  • USD/SGD is currently trading around 1.3862 marks.
     
  • It made intraday high at 1.3876 and low at 1.3853 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.3832 mark.
     
  • A daily close above 1.3857 will test key resistances at 1.3899, 1.3945, 1.3984 and 1.4012 marks respectively.
     
  • Alternatively, a consistent close below 1.3832 will drag the parity down towards key supports at 1.3794, 1.3754 and 1.3670 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 long position on USD/SGD around 1.3855, stop loss at 1.3832 and target of 1.3899/1.3945.

By Aarti Panchal
  • Market Data
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