Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/SGD fails to fall below 1.3500 mark, short term trend reversal likely

  • USD/SGD is currently trading around 1.3520 marks.
     
  • It made intraday high at 1.3529 and low at 1.3510 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.3500 mark.
     
  • A daily close above 1.3515 will test key resistances at 1.3538, 1.3570, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
     
  • Alternatively, a consistent close below 1.3515 will drag the parity down towards key supports at 1.3490, 1.3470, 1.3422, 1.3378 and 1.3315 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 short position on USD/SGD around 1.3530, stop loss at 1.3550 and target of 1.3490/1.3470.

  • Market Data
Close

Welcome to EconoTimes

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