Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/SGD rejects key support at 1.3938 mark, bias turns bullish again

  • USD/SGD is currently trading around 1.3980 marks.
     
  • It made intraday high at 1.3990 and low at 1.3942 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.3938 mark.
     
  • A daily close above 1.3950 will test key resistances at 1.4010, 1.4054, 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
     
  • Alternatively, a consistent close below 1.3938 will drag the parity down towards key supports at 1.39, 1.3852, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 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 around 1.3975, stop loss 1.3938 and target of 1.4010/1.4054.

  • Market Data
Close

Welcome to EconoTimes

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