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FxWirePro: USD/SGD hovers around 1.36 mark, further sideways movement likely

  • USD/SGD is currently trading around 1.3609 marks.
     
  • It made intraday high at 1.3615 and low at 1.3597 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1.3590 mark.
     
  • A daily close above 1.3626 will test key resistances at 1.3637, 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 1.3590 will drag the parity down towards key supports at 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.

We prefer to take long position on USD/SGD only above 1.3615, stop loss at 1.3690 and target of 1.3637/1.3670.

By Aarti Panchal
  • Market Data
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