- USD/SGD is currently trading around 1.3785 marks.
- It made intraday high at 1.3786 and low at 1.3775 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3720 mark.
- A daily close above 1.3780 will test key resistances at 1.3818, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3780 will drag the parity down towards key support at 1.3720/1.3692/1.3615/1.3570/1.3530/1.3496 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 only above 1.3789, stop loss at 1.3750 and target of 1.3854.
