USD/SGD is currently trading around 1.3511 marks. It made intraday high at 1.3514 and low at 1.3496 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3538 marks. A sustained close above 1…
It made intraday high at 1.3514 and low at 1.3496 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.3538 marks.
A sustained close above 1.3538 will test key resistances at 1.3605, 1.3660, 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3462 will drag the parity down towards key supports at 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 1.3538 with stop loss at 1.3462 and target of 1.3605/1.3660.
