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- USD/SGD is currently trading around 1.3806 marks.
- It made intraday high at 1.3811 and low at 1.3798 levels.
- Intraday bias remains slightly bullish till the time pair holds key support at 1.3790 mark.
- A daily close above 1.3815 will test key resistances at 1.3838, 1.3872, 1.3905 and 1.3948 levels respectively.
- Alternatively, a consistent close below 1.3790 will drag the parity down towards key supports at 1.3772/1.3730/1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 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 around 1.3805, stop loss at 1.3772 and target of 1.3872.
