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- USD/SGD is currently trading around 1.3654 marks.
- It made intraday high at 1.3673 and low at 1.3648 levels.
- Intraday bias remains neutral till the time pair moves in stiff boundaries from 1.3705 to 1.3570 levels.
- A daily close above 1.3705 will test key resistances at 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3570 will drag the parity down towards key support at 1.3530/1.3496/1.3430/1.3390 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 only above 1.3705, stop loss at 1.3648 and target of 1.3788.
