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- USD/SGD is currently trading around 1.3709 marks.
- It made intraday high at 1.3711 and low at 1.3684 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3670 mark.
- A daily close above 1.3696 will test key resistances at 1.3738, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3696 will drag the parity down towards key supports at 1.3640, 1.3590, 1.3550, 1.3512 and 1.3454 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 1.3700, stop loss at 1.3668 and target of 1.3738/1.3760.
