• FxWirePro: USD/SGD moves in stiff boundaries, sustained close below 1.3390 requires for downside rally

    Source: FxWire Pro - Technicals / 27 May 2018 23:23:51   America/New_York

    • USD/SGD is currently trading around 1.3390 marks.
       
    • It made intraday high at 1.3421 and low at 1.3390 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1.3390 mark.
       
    • A daily close above 1.3421 will test key resistances at 1.3482, 1.3532 and 1.3587 levels respectively.
       
    • Alternatively, a consistent close below 1.3390 will drag the parity down towards key support at 1.3350/1.3311/1.3255/1.3218 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 around 1.3398, stop loss 1.3422 and target of 1.3350/1.3311.

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