- USD/SGD is currently trading around 1.3646 marks.
- It made intraday high at 1.3651 and low at 1.3629 levels.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 1.3705 to 1.3570 levels.
- A daily close above 1.3705 will test key resistances at 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3570 will drag the parity down towards key support at 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.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
