- USD/SGD is currently trading around 1.3570 marks.
- It made intraday high at 1.3586 and low at 1.3562 levels
- Intraday bias remains bullish till the time pair holds key support at 1.3538 mark.
- A daily close above 1.3567 will test key resistances at 1.3590, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3567 will drag the parity down towards key supports at 1.3538, 1.3490, 1.3465, 1.3422 and 1.3315 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on USD/SGD only above 1.3590, stop loss at 1.3538 and target of 1.3615/1.3672.
