- USD/SGD is currently trading around 1.3725 marks.
- It made intraday high at 1.3730 and low at 1.3715 levels.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 1.3750 to 1.3687 levels.
- A daily close above 1.3723 will test key resistances at 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
- Alternatively, a consistent close below 1.3723 will drag the parity down towards key supports at 1.3687/1.3668/1.3620/1.3570/1.3510 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/SGD only above 1.3740, stop loss at 1.3687 and target of 1.3790/1.3838.
