• FxWirePro: USD/SGD moves in stiff boundaries, stay bullish only above 1.3426 Mark

    Source: FxWire Pro - Technicals / 21 May 2018 21:59:31   America/New_York

    • USD/SGD is currently trading around 1.3398 marks.
       
    • It made intraday high at 1.3406 and low at 1.3384 levels.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close above 1.3399 will test key resistances at 1.3426, 1.3482, 1.3532 and 1.3587 levels respectively.
       
    • Alternatively, a consistent close below 1.3399 will drag the parity down towards key support at 1.3370/1.3311/1.3255/1.3218/1.3150/1.3076/1.3005 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 long position on USD/SGD only above 1.3426, stop loss 1.3370 and target of 1.3482/1.3500.

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