• FxWirePro: USD/SGD exhibits range bound movement, bias remains neutral

    Source: FxWire Pro - Technicals / 19 Nov 2017 22:12:00   Eastern Standard Time

    • USD/SGD is currently trading around 1.3572 marks.
       
    • It made intraday high at 1.3579 and low at 1.3543 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1.3534 mark.
       
    • A daily close above 1.3602 will test key resistances at 1.3652, 1.3715, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
       
    • Alternatively, a consistent close below 1.3532 will drag the parity down towards key supports at 1.3510/1.3492/1.3460/1.3418/1.3346/1.3217/1.3164/1.3005 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 on USD/SGD only below 1.3532, stop loss at 1.3602 and target of 1.3460.

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