- USD/SGD is currently trading around 1.3808 marks.
- It made intraday high at 1.3832 and low at 1.3796 levels.
- Intraday bias remains bearish till the time pair holds key resistance 1.3872 marks.
- A daily close above 1.3836 will test key resistances at 1.3863, 1.3905 and 1.3948 levels respectively.
- Alternatively, a consistent close below 1.3824 will drag the parity down towards key supports at 1.3790/1.3738/1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on USD/SGD around 1.3810, stop loss at 1.3832 and target of 1.3738.
