- USD/SGD is currently trading around 1.3670 marks.
- It made intraday high at 1.3684 and low at 1.3661 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3692 mark.
- A daily close above 1.3678 will test key resistances at 1.3692, 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3675 will drag the parity down towards key support at 1.3615/1.3570/1.3530/1.3496/1.3430/1.3390 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 only above 1.3692, stop loss at 1.3615 and target of 1.3788 mark.
