- USD/SGD is currently trading around 1.3697 marks.
- It made intraday high at 1.3699 and low at 1.3668 levels.
- Intraday bias remains bullish for the moment.
- A daily close above 1.3670 will test key resistances at 1.3720, 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
- Alternatively, a consistent close below 1.3670 will drag the parity down towards key supports at 1.3620/1.3570/1.3510 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 1.3702, stop loss at 1.3665 and target of 1.3738/1.3770.
