- USD/SGD is currently trading around 1.3634 marks.
- It made intraday high at 1.3635 and low at 1.3618 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3618 marks.
- A daily close above 1.3623 will test key resistances at 1.3652, 1.3692, 1.3745, 1.3818, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3623 will drag the parity down towards key supports at 1.3570/1.3510/1.3450 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on USD/SGD around 1.3640, stop loss at 1.3652 and target of 1.3570.
