FxWirePro: USD/SGD hits fresh 6-day high at 1.3613, consistent break above targets 1.3732
USD/SGD is currently trading around 1.3610 marks. It made intraday high at 1.3613 and low at 1.3582 levels. Intraday bias remains bullish till the time pair holds key resistance at 1.3538 marks. A sustained close above 1…
It made intraday high at 1.3613 and low at 1.3582 levels.
Intraday bias remains bullish till the time pair holds key resistance at 1.3538 marks.
A sustained close above 1.3614 will test key resistances at 1.3660, 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 1.3614 with stop loss at 1.3538 and target of 1.3660/1.3732.
