FxWirePro: USD/SGD jumps above 1.39 mark, good to buy on dips
USD/SGD is currently trading around 1.3911 marks. It made intraday high at 1.3923 and low at 1.3890 levels. Intraday bias remains bullish till the time pair holds key support at 1.3833 marks. A sustained close above 1.39…
It made intraday high at 1.3923 and low at 1.3890 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3833 marks.
A sustained close above 1.39 will test key resistances at 1.3943, 1.4045, 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
Alternatively, a consistent break below 1.3833 will drag the parity down towards key supports at 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 around 1.39 with stop loss at 1.3833 and target of 1.3962/1.4045.
