- USD/SGD is currently trading around 1.4170 marks.
- It made intraday high at 1.4197 and low at 1.4167 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.4083 marks.
- A daily close above 1.4180 will test key resistances at 1.4297, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
- Alternatively, a consistent close below 1.4180 will drag the parity down towards key supports at 1.4128/1.4083/1.3972/1.3819/1.3775/1.3704/1.3646 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position in USD/SGD only above 1.4199, stop loss 1.4083 and target of 1.4297/1.4327.
