FxWirePro: USD/SGD hits fresh 8-month high at 1.3999, consistent break above targets 1.4068
USD/SGD is currently trading around 1.3986 marks. It made intraday high at 1.3999 and low at 1.3972 levels. Intraday bias remains bullish till the time pair holds key support at 1.3851 marks. A sustained close above 1.39…
It made intraday high at 1.3999 and low at 1.3972 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3851 marks.
A sustained close above 1.3999 will test key resistances at 1.4068 and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
Alternatively, a consistent break below 1.3851 will drag the parity down towards key supports at 1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 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 only above 1.3999 with stop loss at 1.3851 and target of 1.4068/1.4132.
