USD/SGD exhibits range bound movement, stay bearish only below 1.3075 mark

Singapore Dollar

USD/SGD exhibits range bound movement, stay bearish only below 1.3075 mark.

Friday, February 2, 2018 1:45 AM UTC

USD/SGD is currently trading around 1.3094 marks. 

It made intraday high at 1.3106 and low at 1.3079 levels. 

Intraday bias remains neutral for the moment. 

A daily close above 1.3120 will test key resistances at 1.3176, 1.3208, 1.3254, 1.3302, 1.3353, 1.3438 and 1.3532 levels respectively. 

Alternatively, a consistent close below 1.3075 will drag the parity down towards key support at 1.3005/1.2855/1.2754 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 only below 1.3075, stop loss 1.3150 and target of 1.3005.

USD/SGD exhibits range bound movement, stay bearish only below 1.3075 markhttps://t.co/kbanjyNIcx

— Algobit Forex (@AlgobitForex) 2 febbraio 2018