FxWirePro: USD/SGD Fails to Break Key Resistance at 1.3628, Good to Sell on Rallies
5 May 2016, 06:33
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FxWirePro: USD/SGD Fails to Break Key Resistance at 1.3628, Good to Sell on Rallies
- USD/SGD is currently trading around 1.3558 marks.
- It made intraday high at 1.3594 and low at 1.3553 levels.
- Intraday bias remains bearish till the time pair holds initial resistance level at 1.3628.
- A sustained close above 1.3628 tests key resistances at 1.3772/ 1.3817/ 1.3842 marks respectively.
- A daily close below 1.3507 will drag the parity down towards 1.3420/1.3352/1.3318/1.3302 levels.
We prefer to take short position in USD/SGD around 1.3575, stop loss 1.3628 and target 1.3420/1.3352 marks.
The material has been provided by InstaForex Company - www.instaforex.com
