FxWirePro: USD/SGD hits fresh 11-month high at 1.4436, sustained close above targets 1.4533
USD/SGD is currently trading around 1.4362 marks. It made intraday high at 1.4436 and low at 1.4150 levels. Intraday bias remains bullish till the time pair holds key support at 1.4219 mark. A sustained close above 1.437…
It made intraday high at 1.4436 and low at 1.4150 levels.
Intraday bias remains bullish till the time pair holds key support at 1.4219 mark.
A sustained close above 1.4370 will test key resistances at 1.4481, 1.4533 and 1.4648 levels respectively.
Alternatively, a consistent close below 1.4370 will drag the parity down towards key supports at 1.4219/1.4150/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 go long on USD/SGD around 1.4360, stop loss at 1.4219 and target of 1.4481.
