- USD/SGD is currently trading around 1.3321 marks.
- It made intraday high at 1.3340 and low at 1.3316 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 1.3338 will test key resistances at 1.3370, 1.3438, 1.3482, 1.3532 and 1.3587 levels respectively.
- Alternatively, a consistent close below 1.3292 will drag the parity down towards key support at 1.3255/1.3218/1.3150/1.3076/1.3005 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position on USD/SGD only above 1.3340, stop loss 1.3292 and target of 1.3370/1.3438.
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