FxWirePro: Go long on USD/SGD around 1.3428 with stop loss at 1.3367 and target of 1.3538

             

• USD/SGD is currently trading around 1.3435 marks.
   
• It made intraday high at 1.3439 and low at 1.3405 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3367 marks. 
   
• A daily close below 1.3367 will drag the parity down towards key supports at 1.3318/1.3302/ 1.3271 levels.
   
• Alternatively, a sustained close above 1.3430 will test key resistances at 1.3537, 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).

We prefer to take long position in USD/SGD around 1.3428 with stop loss at 1.3367 and target of 1.3538.