- USD/SGD is currently trading around 1.3482 marks.
- It made intraday high at 1.3485 and low at 1.3456 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3428 marks.
- A daily close below 1.3398 will drag the parity down towards key supports at 1.3313/1.3302/ 1.3271 levels.
- Alternatively, a sustained close above 1.3492 will test key resistances at 1.3537, 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
We prefer to take long position in USD/SGD only above 1.3492 with stop loss at 1.3450 and target of 1.3542/1.3638.
