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FxWirePro: USD/SGD hovers around 1.37 mark, bias remains slightly bearish

  • USD/SGD is currently trading around 1.3701 marks.
     
  • It made intraday high at 1.3710 and low at 1.3697 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1.3650 marks.
     
  • A daily close above 1.3712 will test key resistances at 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
     
  • Alternatively, a consistent close below 1.3700 will drag the parity down towards key supports at 1.3690, 1.3650, 1.3625, 1.3599 and 1.3570 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 short position on USD/SGD only below 1.3690, stop loss at 1.3730 and target of 1.3650/1.3625.

By Aarti Panchal
  • Market Data
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