- USD/SGD is currently trading around 1.4483 marks.
- It made intraday high at 1.4493 and low at 1.4471 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.4406 mark.
- A sustained close above 1.4496 will test key resistances at 1.4533, 1.4686 and 1.4851 levels respectively.
- Alternatively, a consistent close below 1.4406 will drag the parity down towards key supports at 1.4357/1.4219/1.4150/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 go long on USD/SGD only above 1.4496, stop loss at 1.4406 and target of 1.4533/1.4662.