• FxWirePro: USD/SGD hovers around 1.3850 Mark, stay bearish only below 1.3830 Mark

    Source: FxWire Pro - Technicals / 14 Aug 2019 05:03:16   Europe/London

    • USD/SGD is currently trading around 1.3845 marks.
       
    • It made intraday high at 1.3853 and low at 1.3831 levels.
       
    • Intraday bias remains slightly bullish till the time pair holds key support at 1.3830 mark.
       
    • A daily close above 1.3870 will test key resistances at 1.3888, 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3830 will drag the parity down towards key supports at 1.3794, 1.3754 and 1.3670 levels respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take short position on USD/SGD only below 1.3830, stop loss at 1.3855 and target of 1.3794/1.3754.

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