FxWirePro: USD/SGD breaks key resistance at 1.4290 mark in early Asia, stay long
USD/SGD is currently trading around 1.43 marks. It made intraday high at 1.4300 and low at 1.4235 levels. Intraday bias remains bullish till the time pair holds key support at 1.4222 mark. A daily close above 1.4290 will…
It made intraday high at 1.4300 and low at 1.4235 levels.
Intraday bias remains bullish till the time pair holds key support at 1.4222 mark.
A daily close above 1.4290 will test key resistances at 1.4326, 1.4360, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
Alternatively, a consistent close below 1.4236 will drag the parity down towards key supports at 1.4150, 1.4097, 1.4062, 1.3938 and 1.3870 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 1.4285, stop loss at 1.4122 and target of 1.4360/1.44.
