• FxWirePro: USD/SGD falls below 1.3500 mark, good to sell on rallies

    Source: FxWire Pro - Technicals / 13 Dec 2017 22:44:21   Eastern Standard Time

    • USD/SGD is currently trading around 1.3471 marks.
       
    • It made intraday high at 1.3492 and low at 1.3460 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 1.3532 mark.
       
    • A daily close above 1.3463 will test key resistances at 1.3532, 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
       
    • Alternatively, a consistent close below 1.3463 will drag the parity down towards key support at 1.3452/1.3432/1.3396/1.3346/1.3217/1.3164/1.3005 levels respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    We prefer to take short position in USD/SGD around 1.3485, stop loss 1.3532 and target of 1.3396.

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