FxWirePro: USD/SGD Almost Flat in Early Asia, Upside Limited

FxWirePro: USD/SGD Almost Flat in Early Asia, Upside Limited

16 May 2016, 05:50
Roberto Jacobs
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FxWirePro: USD/SGD Almost Flat in Early Asia, Upside Limited

  • USD/SGD is currently trading around 1.3718 marks. 
  • It made intraday high at 1.3740 and low at 1.3715 levels. 
  • Intraday bias remains neutral 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 1.3698 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 short position in USD/SGD only below 1.3698, stop loss 1.3772 and target 1.3628/ 1.3420 marks.

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