• FxWirePro: USD/SGD fails to find support below 1.3785 Mark, singapore’s forex reserve data in focus

    Source: FxWire Pro - Technicals / 07 Oct 2019 04:43:38   Europe/London

    • USD/SGD is currently trading around 1.3809 marks.
       
    • It made intraday high at 1.3809 and low at 1.3785 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 1.3785 mark.
       
    • A daily close above 1.3785 will test key resistances at 1.3855, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3785 will drag the parity down towards key supports at 1.3738, 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.
       
    • Singapore will release forex reserves data around 0900 GMT.

    We prefer to take long position on USD/SGD around 1.3805, stop loss at 1.3780 and target of 1.3855/1.3913.

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