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- USD/SGD is currently trading around 1.3839 marks.
- It made intraday high at 1.3891 and low at 1.3879 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3899 mark.
- A daily close above 1.3899 will test key resistances at 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3848 will drag the parity down towards key supports at 1.3794, 1.3754 and 1.3670 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 only above 1.3899, stop loss at 1.3870 and target of 1.3945/1.3984.
