Charting USDSGD

1.4036 is the low in USDSGD so far this morning after the stops taken out below 1.4055 overnight. 1.4030-1.4040 shud bring support for today with topside capping at 1.4115.. A break of the support here at 1.4030 ( daily bearish channel bottom) increases a further squeeze chance of 1.3995 while  55 days SMAVG merges in at 1.4018.

I think it is a good buy here between 1.4030-1.4040 with a tight SL at 1.4013, targeting 1.4115.

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Charting USDSGD

USDSGD weekly

USDSGD seems to be stuck between 1.3955-1.4078 range.  Daily speaking, the market looks heavily offered and a break of 1.3955 good support may take USDSGD down to 1.3885 to test the weekly support. Overall, the pair still trades in a bearish trend with sell on rallies. A weekly close above 1.4040 needed to change the overall direction and beyond that the  topside resistances at 1.4375 and 1.4625.  I think more like a buy on dips between 1.3885-1.3900 with a tight SL at 1.3835, targeting  1.4375.

USDSGD daily

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