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- USD/SGD is currently trading around 1.3726 marks.
- It made intraday high at 1.3745 and low at 1.3688 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3625 mark.
- A daily close above 1.3692 will test key resistances at 1.3788, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3692 will drag the parity down towards key support at 1.3625/1.3551/1.3502/1.3430/1.3390 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 1.3710, stop loss 1.3620 and target of 1.3788.
