FxWirePro: USD/SGD jumps above 1.42 mark, bias turns bullish again
USD/SGD is currently trading around 1.4242 marks. It made intraday high at 1.4257 and low at 1.4227 levels. Intraday bias remains bullish for the moment. A sustained close above 1.4230 will test key resistances at 1.4270…
It made intraday high at 1.4257 and low at 1.4227 levels.
Intraday bias remains bullish for the moment.
A sustained close above 1.4230 will test key resistances at 1.4270, 1.4335, 1.4443, 1.4481 and 1.4556 levels respectively.
Alternatively, a consistent close below 1.4150 will drag the parity down towards key supports at 1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 go long on USD/SGD around 1.4235, stop loss at 1.4150 and target of 1.4352.
