- USD/SGD is currently trading around 1.4109 marks.
- It made intraday high at 1.4141 and low at 1.4066 levels.
- Intraday bias remains bullish for the moment.
- A daily close above 1.4102 will test key resistances at 1.4142, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
- Alternatively, a consistent close below 1.4102 will drag the parity down towards key supports at 1.4010, 1.3938, 1.3870, 1.3838, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 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 around 1.4080, stop loss 1.4050 and target of 1.4188/1.4234.
