Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/SGD hits fresh 9-month low at 1.3693 mark, stay bearish

  • USD/SGD is currently trading around 1.3695 marks.
     
  • It made intraday high at 1.3700 and low at 1.3693 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1.3705 mark.
     
  • A daily close above 1.3700 will test key resistances at 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
     
  • Alternatively, a consistent close below 1.3700 will drag the parity down towards key supports at 1.3631/1.3554 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • Singapore June non-oil domestic exports +8.2 pct from year earlier; poll +4.1.
     
  • Singapore June non-oil domestic exports -2.7 pct m/m after seasonal adjustment; poll -2.1.

We prefer to take short position in USD/SGD around 1.3700, stop loss at 1.3750 and target of 1.3631.

 

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

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