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FxWirePro: USD/SGD fails to find support below 1.3830 mark, good to buy on dips

  • USD/SGD is currently trading around 1.3854 marks.
     
  • It made intraday high at 1.3861 and low at 1.3829 levels.
     
  • Intraday bias remains slightly bullish for the moment.
     
  • A daily close above 1.3830 will test key resistances at 1.3870, 1.3950, 1.4010, 1.4054, 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
     
  • Alternatively, a consistent close below 1.3830 will drag the parity down towards key supports at 1.3822, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 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 1.3845, stop loss 1.3827 and target of 1.39/1.3950.
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