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- USD/SGD is currently trading around 1.3497 marks.
- It made intraday high at 1.3522 and low at 1.3478 levels.
- Intraday bias remains neutral till the time pair holds initial support at 1.3488 levels.
- A daily close below 1.3488 will drag the parity down towards 1.3415/1.3318/1.3302 levels.
- A sustained close above 1.3548 tests key resistances at 1.3628/1.3772/ 1.3817/ 1.3842 marks respectively.
- Important to note here that, 20D, 30D and 55D EMA heads down in daily chart and confirms bearish trend.
We prefer to take short position in USD/SGD only below 1.3488, stop loss 1.3548 and target 1.3415 levels.
