• FxWirePro: USD/SGD spikes down to 1.4215 Mark in early Asia, stay long only above 1.4310 Mark

    Source: FxWire Pro - Technicals / 29 Mar 2020 22:34:47   America/New_York

    • USD/SGD is currently trading around 1.4276 marks.
       
    • It made intraday high at 1.4297 and low at 1.4215 levels.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 1.4310 mark.
       
    • A daily close above 1.4249 will test key resistances at 1.4310, 1.4383, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
       
    • Alternatively, a consistent close below 1.4249 will drag the parity down towards key supports at 1.4210, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 levels respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

    We prefer to take long position on USD/SGD only above 1.4310, stop loss 1.4210 and target of 1.4383/1.4542.

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