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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 1.4370 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.

  • Market Data
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