- USD/SGD is currently trading around 1.3680 marks.
- It made intraday high at 1.3687 and low at 1.3643 levels.
- Intraday bias remains bullish for the moment.
- A daily close above 1.3646 will test key resistances at 1.3738, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3646 will drag the parity down towards key supports at 1.3590, 1.3550, 1.3457, 1.3387, 1.3350 and 1.3267 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on USD/SGD around 1.3670, stop loss at 1.3540 and target of 1.3738.
