- USD/SGD is currently trading around 1.3586 marks.
- It made intraday high at 1.3589 and low at 1.3572 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3570 mark.
- A daily close above 1.3584 will test key resistances at 1.3652, 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3584 will drag the parity down towards key support at 1.3570/1.3530/1.3496/1.3430/1.3390 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Singapore will release manufacturing output data at 0500 GMT.
We prefer to take short position on USD/SGD only below 1.3570, stop loss 1.3652 and target of 1.3530/1.3496.
