- USD/SGD is currently trading around 1.3653 marks.
- It made intraday high at 1.3665 and low at 1.3651 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3590 mark.
- A daily close above 1.3656 will test key resistances at 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3656 will drag the parity down towards key supports at 1.3620, 1.3590, 1.3550, 1.3512 and 1.3454 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/SGD around 1.3650, stop loss at 1.3620 and target of 1.3680.
