FxWirePro: USD/SGD Hovers Around Key Support at 1.3420, Intraday Bias Remains Neutral

FxWirePro: USD/SGD Hovers Around Key Support at 1.3420, Intraday Bias Remains Neutral

2 May 2016, 06:11
Roberto Jacobs
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FxWirePro: USD/SGD Hovers Around Key Support at 1.3420, Intraday Bias Remains Neutral

  • USD/SGD is currently trading around 1.3432 marks
  • It made intraday high at 1.3455 and low at 1.3424 levels. 
  • Intraday bias remains neutral till the time pair holds initial support at 1.3420 levels. 
  • A daily close below 1.3420 will drag the parity down towards 1.3352/1.3318/1.3302 levels. 
  • On the other side, a sustained close above 1.3489 tests key resistances at 1.3561/1.3628/1.3772/ 1.3817/ 1.3842 marks respectively.

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



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