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FxWirePro: USD/SGD exhibits range bound movement, stay neutral

  • USD/SGD is currently trading around 1.3755 marks.
     
  • It made intraday high at 1.3755 and low at 1.3737 levels.
     
  • Intraday bias remains neutral till the time pair moves in stiff boundaries from 1.3720 to 1.3790 marks.
     
  • A daily close above 1.3752 will test key resistances at 1.3790, 1.3857, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
     
  • Alternatively, a consistent close below 1.3720 will drag the parity down towards key supports at 1.3667, 1.3622 and 1.3580 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position on USD/SGD only above 1.3790, stop loss at 1.3737 and target of 1.3857/1.3913.

By Aarti Panchal
  • Market Data
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