• FxWirePro: USD/SGD remains well supported above 1.32 mark, upside limited

    Source: FxWire Pro - Technicals / 21 Jan 2018 22:08:05   Eastern Standard Time

    • USD/SGD is currently trading around 1.3208 marks.
       
    • It made intraday high at 1.3222 and low at 1.3197 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1.3207 mark.
       
    • A daily close above 1.3245 will test key resistances at 1.3302, 1.3353, 1.3438, 1.3532, 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
       
    • Alternatively, a consistent close below 1.3207 will drag the parity down towards key support at 1.3164/1.3015/1.2855 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 1.3215, stop loss 1.3275 and target of 1.3164/1.3132.

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