- USD/SGD is currently trading around 1.4142 marks.
- It made intraday high at 1.4179 and low at 1.4126 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3972 marks.
- A sustained close above 1.4150 will test key resistances at 1.4228, 1.4336 and 1.4443 levels respectively.
- Alternatively, a consistent break below 1.3972 will drag the parity down towards key supports at 1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
- 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 around 1.4120 with stop loss at 1.4072 and target of 1.4228/1.4336.
