Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/SGD stabilizes below 1.38 mark, bias remains bearish

  • USD/SGD is currently trading around 1.3772 marks.
     
  • It made intraday high at 1.3795 and low at 1.3769 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 1.3838 mark.
     
  • A daily close above 1.3790 will test key resistances at 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
     
  • Alternatively, a consistent close below 1.3790 will drag the parity down towards key supports at 1.3747/1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on USD/SGD only below 1.3750, stop loss at 1.3790 and target of 1.3690.

  • Market Data
Close

Welcome to EconoTimes

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