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- USD/SGD is currently trading around 1.3677 marks.
- It made intraday high at 1.3686 and low at 1.3670 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3690 marks.
- A daily close above 1.3690 will test key resistances at 1.3720, 1.3780, 1.3820, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3680 will drag the parity down towards key supports at 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 long position on USD/SGD only above 1.3690, stop loss at 1.3650 and target of 1.3780.
