FXWIREPRO: USD/SGD Hovers Around Key Support at 1.3487, Intraday Bias Remains Neutral
- USD/SGD is currently trading around 1.3490 marks.
- It made intraday high at 1.3501 and low at 1.3478 levels.
- Intraday bias remains neutral till the time pair holds initial support at 1.3487 levels.
- A sustained close above 1.3628 tests key resistances at 1.3772/ 1.3817/ 1.3842 marks respectively.
- On the other side, a daily close below 1.3487 will drag the parity down towards 1.3415/1.3318/1.3302 levels.
- Important to note here that, 20D, 30D and 55D EMA heads down in daily chart and confirms bearish trend.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
The material has been provided by InstaForex Company - www.instaforex.com