- USD/SGD is currently trading around 1.3797 marks.
- It made intraday high at 1.3807 and low at 1.3783 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3746 marks.
- A daily close above 1.3801 will test key resistances at 1.3818, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3786 will drag the parity down towards key supports at 1.3746/1.3690/1.3652/1.3607/1.3570/1.3510/1.3450 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 around 1.3690, stop loss at 1.3646 and target of 1.3888.
