• FxWirePro: USD/SGD breaks key support at 1.3690 Mark, sustained close below targets 1.3652 Mark

    Source: FxWire Pro - Technicals / 19 Sep 2018 22:56:26   America/New_York

    • USD/SGD is currently trading around 1.3682 marks.
       
    • It made intraday high at 1.3696 and low at 1.3682 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 1.3720 marks.
       
    • A daily close above 1.3640 will test key resistances at 1.3720, 1.3780, 1.3820, 1.3854 and 1.3905 levels respectively.
       
    • Alternatively, a consistent close below 1.3690 will drag the parity down towards key supports at 1.3652/1.3607/1.3570/1.3510/1.3450 levels respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

    We prefer to take short position on USD/SGD only below 1.3680, stop loss at 1.3720 and target of 1.3652/1.3607.

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