• FxWirePro: USD/SGD fails to find support above 1.3790 Mark, good to sell on rallies

    Source: FxWire Pro - Technicals / 22 Sep 2019 11:38:10   America/New_York

    • USD/SGD is currently trading around 1.3761 marks.
       
    • It made intraday high at 1.3791 and low at 1.3759 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 1.3790 mark.
       
    • A daily close above 1.3790 will test key resistances at 1.3857, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3733 will drag the parity down towards key supports at 1.3667, 1.3622 and 1.3580 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 around 1.3770, stop loss at 1.3799 and target of 1.3733/1.3697.

Share on,