FxWirePro: USD/SGD hits fresh 3-month high at 1.3685, bias remains bullish
USD/SGD is currently trading around 1.3664 marks. It made intraday high at 1.3681 and low at 1.3658 levels. Intraday bias remains bullish till the time pair holds key support at 1.3605 marks. A sustained close above 1.36…
It made intraday high at 1.3681 and low at 1.3658 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3605 marks.
A sustained close above 1.3660 will test key resistances at 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3605 will drag the parity down towards key supports at 1.3538/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/SGD only above 1.3685 with stop loss at 1.3605 and target of 1.3799.
