- USD/SGD is currently trading around 1.4173 marks.
- It made intraday high at 1.4206 and low at 1.4158 levels.
- Intraday bias remains neutral till the time pair holds key immediate resistance at 1.4206 mark.
- A daily close above 1.4206 will test key resistances at 1.4278, 1.4318, 1.4360, 1.4444, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
- Alternatively, a consistent close below 1.4172 will drag the parity down towards key supports at 1.4134, 1.4097, 1.4062, 1.3938 and 1.3870 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 only above 1.4206, stop loss at 1.4150 and target of 1.4278/1.4318.
