- USD/SGD is currently trading around 1.3728 marks.
- It made intraday high at 1.3744 and low at 1.3725 levels.
- Intraday bias remains neutral till the time pair holds immediate resistance at 1.3746 mark.
- A daily close above 1.3740 will test key resistances at 1.3775, 1.3818, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3740 will drag the parity down towards key supports at 1.3692/1.3620/1.3570/1.3510 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Singapore will release manufacturing output data at 0500 GMT.
We prefer to take long position on USD/SGD around 1.3715, stop loss at 1.3692 and target of 1.3775.
