• FxWirePro: USD/SGD trades in stiff boundaries, bias remains neutral

    Source: FxWire Pro - Technicals / 03 Dec 2017 21:58:07   America/New_York

    • USD/SGD is currently trading around 1.3486 marks.
       
    • It made intraday high at 1.3494 and low at 1.3459 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at 1.3452 mark.
       
    • A daily close above 1.3485 will test key resistances at 1.3508, 1.3550, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
       
    • Alternatively, a consistent close below 1.3452 will drag the parity down towards key support at 1.3432/1.3396/1.3346/1.3217/1.3164/1.3005 levels respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

    We prefer to take long position in USD/SGD only above 1.3508, stop loss 1.3452 and target of 1.3550/1.3602.

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