FxWirePro: USD/SGD hits fresh 3-week high at 1.3678; stay bullish
USD/SGD is currently trading around 1.3675 marks. It made intraday high at 1.3678 and low at 1.3646 levels. Intraday bias remains bullish till the time pair holds key support at 1.3610 marks. A sustained close above 1.36…
It made intraday high at 1.3678 and low at 1.3646 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3610 marks.
A sustained close above 1.3650 will test key resistances at 1.3698, 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).
Alternatively, a daily close below 1.36 will drag the parity down towards key supports at 1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 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 around 1.3660 with stop loss at 1.3610 and target of 1.3698/1.3799.
