Fxwirepro: Usd/sgd Hits Fresh 2-Week Low at 1.3965 Mark, Stay Bearish



USD/SGD is currently trading around 1.3973 marks.

It made intraday high at 1.3982 and low at 1.3965 levels.

Intraday bias remains bearish till the time pair holds key resistance at 1.4046 marks. A daily close above 1.3982 will test key resistances at 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.

Alternatively, a consistent close below 1.3982 will drag the parity down towards key supports at 1.3964/1.3919/1.3851/1.3775/1.3704/1.3646 levels respectively.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position in USD/SGD around 1.3980, stop loss 1.4027 and target of 1.3919.

News are provided byInstaForex.