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2017.03.2722:20:00UTC+00Fxwirepro: Usd/sgd Trades in Narrow Range, Bias Remains Neutral

  • USD/SGD is currently trading around 1.3941 marks.
     
  • It made intraday high at 1.3947 and low at 1.3934 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 1.3908 marks.
     
  • A daily close above 1.3935 will test key resistances at 1.3988, 1.4020, 1.4064, 1.4090, 1.4160, 1.4219, 1.4266, 1.4327, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
     
  • Alternatively, a consistent close below 1.3935 will drag the parity down towards key supports at 1.3900/1.3851/1.3775/1.3704/1.3646 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in USD/SGD only below 1.3908, stop loss 1.3988 and target of 1.3851.

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