USD/SGD is currently trading around 1.3619 marks. It made intraday high at 1.3625 and low at 1.3611 levels. Intraday bias remains neutral till the time pair holds key support at 1.3605 marks. A daily close below 1.3605 w…
It made intraday high at 1.3625 and low at 1.3611 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3605 marks.
A daily close below 1.3605 will drag the parity down towards key supports at 1.3538/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3637 will test key resistances at 1.3698, 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
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 only above 1.3637 with stop loss at 1.3605 and target of 1.3698/1.3732.
