FxWirePro: USD/SGD Fails to Break Key Support at 1.3623, Good to Buy on Dips

FxWirePro: USD/SGD Fails to Break Key Support at 1.3623, Good to Buy on Dips

12 May 2016, 11:21
Roberto Jacobs
0
10

FxWirePro: USD/SGD Fails to Break Key Support at 1.3623, Good to Buy on Dips

  • USD/SGD is currently trading around 1.3690 marks. 
  • It made intraday high at 1.3695 and low at 1.3656 levels. 
  • Intraday bias remains bullish for the moment. 
  • A sustained close above 1.3723 tests key resistances at 1.3772/ 1.3817/ 1.3842 marks respectively. 
  • A daily close below 1.3644 will drag the parity down towards key supports 1.3628/1.3548/1.3420/1.3352/1.3318/1.3302 levels.

We prefer to take long position in USD/SGD around 1.3670, stop loss 1.3644 and target 1.3723/1.3805 marks.

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