FxWirePro: USD/SGD Breaks Key Resistance at 1.3723, Intraday Bias Remains Bullish
13 May 2016, 07:40
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FxWirePro: USD/SGD Breaks Key Resistance at 1.3723, Intraday Bias Remains Bullish
- USD/SGD is currently trading around 1.3747 marks.
- It made intraday high at 1.3759 and low at 1.3727 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3723.
- A sustained close above 1.3732 tests key resistances at 1.3772 (July 31, 2015 high)/ 1.3817/ 1.3842 (March 08, 2016 high) marks respectively.
- A daily close below 1.3656 will drag the parity down towards key supports 1.3628 (55D EMA) /1.3548/1.3420 (April 13, 2016 low) /1.3357 (April 20, 2016 low) /1.3318/1.3302 levels.
We prefer to take long position in USD/SGD around 1.3730, stop loss 1.3654 and target 1.3805/ 1.3842 marks.
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