- USD/SGD is currently trading around 1.4231 marks.
- It made intraday high at 1.4242 and low at 1.4206 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.4119 marks.
- A sustained close above 1.4242 will test key resistances at 1.4336, 1.4443 and 1.4481 levels respectively.
- Alternatively, a consistent close below 1.4119 will drag the parity down towards key supports at 1.4046/1.3972/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 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 1.4242 with stop loss at 1.4119 and target of 1.4481.
