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- USD/SGD is currently trading around 1.3522 marks.
- It made intraday high at 1.3525 and low at 1.3502 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3525 marks.
- A daily close above 1.3516 will test key resistances at 1.3534, 1.3587 and 1.3624 levels respectively.
- Alternatively, a consistent close below 1.3516 will drag the parity down towards key support at 1.3430/1.3390/1.3307/1.3255/1.3218/1.3120 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 1.3525, stop loss 1.3470 and target of 1.3587.
