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