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FxWirePro: USD/SGD hits fresh 2-week low at 1.3138 mark, stay bearish

  • USD/SGD is currently trading around 1.3141 marks.
     
  • It made intraday high at 1.3159 and low at 1.3138 levels
    .
  • Intraday bias remains bearish till the time pair holds key resistance at 1.3190 mark.
     
  • A daily close above 1.3141 will test key resistances at 1.3190, 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
     
  • Alternatively, a consistent close below 1.3141 will drag the parity down towards key support at 1.3090/1.3005/1.2855/1.2754 levels respectively.
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/SGD around 1.3145, stop loss at 1.3190 and target of 1.3090/1.3005.

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