• FxWirePro: USD/SGD stabilizes below 1.3850 Mark, sustained close below targets 1.3794 Mark

    Source: FxWire Pro - Technicals / 21 Aug 2019 04:10:07   Europe/London

    • USD/SGD is currently trading around 1.3841 marks.
       
    • It made intraday high at 1.3857 and low at 1.3836 levels.
       
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3870 mark.
       
    • A daily close above 1.3870 will test key resistances at 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3816 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 around 1.3850, stop loss at 1.3870 and target of 1.3794.

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