- USD/SGD is currently trading around 1.3330 marks.
- It made intraday high at 1.3345 and low at 1.3327 levels.
- Intraday bias remains bullish till the time pair holds immediate support at 1.3288 mark.
- A daily close above 1.3333 will test key resistances at 1.3370, 1.3438 and 1.3532 levels respectively.
- Alternatively, a consistent close below 1.3288 will drag the parity down towards key support at 1.3218/1.3150/1.3076/1.3005 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
- Singapore will release manufacturing PMI data at 1300 GMT.
We prefer to take long position on USD/SGD around 1.3320, stop loss 1.3288 and target of 1.3370/1.3438.
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