FxWirePro: USD/SGD falls below 1.36 mark, good to sell on rallies
13 September 2016, 11:07
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- USD/SGD is currently trading around 1.3564 marks.
- It made intraday high at 1.3571 and low at 1.3546 levels.
- Intraday bias remains bearish till the time pair holds key resistance at
1.3632 marks.
- A sustained close above 1.3632 will test key resistances at 1.3660, 1.3732,
1.3799, 1.3836, 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 1.3546 will drag the parity down
towards key supports at 1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271
levels.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go short on USD/SGD around 1.3570 with stop loss at 1.3632 and target of 1.3462.
