Analytics & Forecasts

FxWirePro: USD/SGD falls below 1.36 mark, good to sell on rallies

13 September 2016, 11:07
Eko Rediantoro
Eko Rediantoro
0
63

  • 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.


#USD/SGD