Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/SGD fails to find support above 1.3790 mark, good to sell on rallies

  • USD/SGD is currently trading around 1.3761 marks.
     
  • It made intraday high at 1.3791 and low at 1.3759 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1.3790 mark.
     
  • A daily close above 1.3790 will test key resistances at 1.3857, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
     
  • Alternatively, a consistent close below 1.3733 will drag the parity down towards key supports at 1.3667, 1.3622 and 1.3580 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on USD/SGD around 1.3770, stop loss at 1.3799 and target of 1.3733/1.3697.

  • Market Data
Close

Welcome to EconoTimes

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