FxWirePro: USD/SGD Hits Fresh Monthly High at 1.3828, a Break Above Targets 1.3851
19 May 2016, 07:45
0
51
FxWirePro: USD/SGD Hits Fresh Monthly High at 1.3828, a Break Above Targets 1.3851
- USD/SGD is currently trading around 1.3801 marks.
- It made intraday high at 1.3828 and low at 1.3801 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3828 levels.
- A sustained close above 1.3828 tests key resistances at 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
- On the other side, a daily close below 1.3785 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 1.38, stop loss 1.3751 and target 1.3851/ 1.4073 levels.
The material has been provided by 
