• FxWirePro: USD/SGD trades in narrow range, sustained close above 1.3848 requires for upside rally

    Source: FxWire Pro - Technicals / 09 Oct 2019 04:44:49   Europe/London

    • USD/SGD is currently trading around 1.3823 marks.
       
    • It made intraday high at 1.3827 and low at 1.3816 levels.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 1.3848 mark.
       
    • A daily close above 1.3826 will test key resistances at 1.3848, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3785 will drag the parity down towards key supports at 1.3738, 1.3667, 1.3622 and 1.3580 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 1.3828, stop loss at 1.3780 and target of 1.3848/1.3913.

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