FxWirePro: USD/SGD back above 1.3650 mark, Singapore’s industrial production data in focus
Tuesday, November 26, 2019 3:38 AM UTC
- USD/SGD is currently trading around 1.3651 marks.
- It made intraday high at 1.3655 and low at 1.3641 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1.3620 mark.
- A daily close above 1.3648 will test key resistances at 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3648 will drag the parity down towards key supports at 1.3620, 1.3606, 1.3590, 1.3570, 1.3522, 1.3490, 1.3447 and 1.3387 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Singapore will release industrial production data around 0500 GMT.
We prefer to take long position on USD/SGD around 1.3650, stop loss at 1.3620 and target of 1.3670/1.3706.