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FxWirePro: USD/SGD remains well supported above 1.31 mark, stay bullish only above 1.3134 mark

  • USD/SGD is currently trading around 1.331 marks.
     
  • It made intraday high at 1.3134 and low at 1.3105 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 1.3134 mark.
     
  • A daily close above 1.3122 will test key resistances at 1.3172, 1.3202, 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
     
  • Alternatively, a consistent close below 1.3072 will drag the parity down towards key support at 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 long position on USD/SGD only above 1.3134, stop loss 1.3088 and target of 1.3172/1.3202.

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