- USD/SGD is currently trading around 1.3643 marks.
- It made intraday high at 1.3652 and low at 1.3635 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 1.3642 will test key resistances at 1.3692, 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3642 will drag the parity down towards key support at 1.3570/1.3530/1.3496/1.3430/1.3390 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 retail sales data at 0500 GMT.
We prefer to take long position on USD/SGD around 1.3620, stop loss at 1.3570 and target of 1.3692/1.3714.
