- USD/SGD is currently trading around 1.3798 marks.
- It made intraday high at 1.3799 and low at 1.3788 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1.3750 marks.
- A daily close above 1.3801 will test key resistances at 1.3838, 1.3854, 1.3896 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3765 will drag the parity down towards key supports at 1.3722, 1.3690, 1.3650, 1.3625, 1.3599 and 1.3570 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/SGD around 1.3790, stop loss at 1.3750 and target of 1.3838/1.3854.
