• FxWirePro: USD/SGD trades in narrow range, bias remains neutral

    Source: FxWire Pro - Technicals / 12 Feb 2018 22:46:02   Eastern Standard Time

    • USD/SGD is currently trading around 1.3233 marks.
    • It made intraday high at 1.3251 and low at 1.3226 levels.
    • Intraday bias remains neutral for the moment.
    • A daily close above 1.3231 will test key resistances at 1.3340, 1.3438 and 1.3532 levels respectively.
    • Alternatively, a consistent close below 1.3231 will drag the parity down towards key support at 1.3168/1.3080/1.3005/1.2855/1.2754 levels respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

    Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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