• FxWirePro: Singapore Dollar rises in early Asia, good to sell on rallies

    Source: FxWire Pro - Technicals / 19 Mar 2018 23:27:32   Eastern Standard Time

    • USD/SGD is currently trading around 1.3146 marks.
    • It made intraday high at 1.3172 and low at 1.3146 levels.
    • Intraday bias remains bearish till the time pair holds key resistance at 1.3192 marks.
    • A daily close above 1.3168 will test key resistances at 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
    • Alternatively, a consistent close below 1.3168 will drag the parity down towards key support at 1.3086/1.3005/1.2855/1.2754 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 1.3155, stop loss at 1.3202 and target of 1.3005.

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