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- USD/SGD is currently trading around 1.3878 marks.
- It made intraday high at 1.3883 and low at 1.3864 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3840 mark.
- A daily close above 1.3870 will test key resistances at 1.3888, 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3870 will drag the parity down towards key supports at 1.3840, 1.3794, 1.3754 and 1.3670 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 1.3872, stop loss at 1.3840 and target of 1.3945.
