• FxWirePro: USD/SGD moves in rigid boundaries, consistent close above 1.3847 requires for upside rally

    Source: FxWire Pro - Technicals / 07 Aug 2019 05:32:58   Europe/London

    • USD/SGD is currently trading around 1.3832 marks.
       
    • It made intraday high at 1.3847 and low at 1.3798 levels.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close above 1.3847 will test key resistances at 1.3888, 1.3945 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3816 will drag the parity down towards key supports at 1.3754, 1.3670, 1.3640, 1.3590, 1.3550, 1.3512 and 1.3454 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 long position on USD/SGD only above 1.3847, stop loss at 1.3790 and target of 1.3945.

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