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FxWirePro: USD/SGD trades in narrow range, sustained close below 1.4241 requires for downside rally

  • USD/SGD is currently trading around 1.4245 marks.
     
  • It made intraday high at 1.4263 and low at 1.4232 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1.4210 mark.
     
  • A daily close above 1.4241 will test key resistances at 1.4310, 1.4383, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
     
  • Alternatively, a consistent close below 1.4241 will drag the parity down towards key supports at 1.4210, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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.

Positioning is inconclusive at this point. We remain sideways for the time being.

  • Market Data
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