- USD/SGD is currently trading around 1.3264 marks.
- It made intraday high at 1.3266 and low at 1.3255 levels.
- Intraday bias remains neutral till the time pair holds immediate resistance at 1.3266 mark.
- A daily close above 1.3258 will test key resistances at 1.3296, 1.3340, 1.3438 and 1.3532 levels respectively.
- Alternatively, a consistent close below 1.3221 will drag the parity down towards key support at 1.3150/1.3076/1.3005/1.2855/1.2754 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 1.3258, stop loss 1.3218 and target of 1.3296/1.3340.
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