• FxWirePro: USD/SGD hits fresh 3 – week low at 1.3742 Mark, singapore’s retail sales data in focus

    Source: FxWire Pro - Technicals / 13 Oct 2019 11:06:43   Europe/London

    • USD/SGD is currently trading around 1.3745 marks.
       
    • It made intraday high at 1.3759 and low at 1.3742 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 1.3770 mark.
       
    • A daily close above 1.3751 will test key resistances at 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3751 will drag the parity down towards key supports at 1.3720, 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 retail sales data around 0500 GMT.

    We prefer to take short position on USD/SGD around 1.3750, stop loss at 1.3770 and target of 1.3720/1.3667.

Share on,