• FxWirePro: Singapore Dollar trades almost flat against U.S. Dollar, faces strong support at 1.3147 mark

    Source: FxWire Pro - Technicals / 06 Mar 2018 23:31:43   Eastern Standard Time

    • USD/SGD is currently trading around 1.3162 marks.
    • It made intraday high at 1.3188 and low at 1.3157 levels.
    • Intraday bias remains neutral till the time pair holds key support at 1.3147 mark.
    • A daily close above 1.3162 will test key resistances at 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
    • Alternatively, a consistent close below 1.3162 will drag the parity down towards key support at 1.3147/1.3090/1.3005/1.2855/1.2754 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 only below 1.3147, stop loss at 1.3232 and target of 1.3090/1.3005.

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