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- USD/SGD is currently trading around 1.3782 marks.
- It made intraday high at 1.3785 and low at 1.3770 levels.
- Intraday bias remains bullish for the moment.
- A daily close above 1.3776 will test key resistances at 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
- Alternatively, a consistent close below 1.3776 will drag the parity down towards key supports at 1.3720/1.3690/1.3654/1.3620/1.3570 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 long position on USD/SGD around 1.3775, stop loss at 1.3740 and target of 1.3838/1.3872.
