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FxWirePro: USD/SGD hovers around fresh 9-month high at 1.4289, consistent break above targets 1.4336

  • USD/SGD is currently trading around 1.4258 marks.
     
  • It made intraday high at 1.4281 and low at 1.4252 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.4128 marks.
     
  • A sustained close above 1.4289 will test key resistances at 1.4336, 1.4443 and 1.4481 levels respectively.
     
  • Alternatively, a consistent close below 1.4128 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 1.4289 with stop loss at 1.4202 and target of 1.4402.

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