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- USD/SGD is currently trading around 1.3786 marks.
- It made intraday high at 1.3789 and low at 1.3765 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3750 marks.
- A daily close above 1.3790 will test key resistances at 1.3813, 1.3854 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3770 will drag the parity down towards key supports at 1.3720, 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 1.3780, stop loss at 1.3750 and target of 1.3854.
