USD/SGD is currently trading around 1.3837 marks. It made intraday high at 1.3848 and low at 1.3821 levels. Intraday bias remains slightly bearish for the moment. A daily close above 1.3843 will test key resistances at 1…
It made intraday high at 1.3848 and low at 1.3821 levels.
Intraday bias remains slightly bearish for the moment.
A daily close above 1.3843 will test key resistances at 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3843 will drag the parity down towards key supports at 1.3794, 1.3754 and 1.3670 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position on USD/SGD around 1.3830, stop loss at 1.3810 and target of 1.3848/1.3913.
