USD/SGD is currently trading around 1.3888 marks. It made intraday high at 1.3894 and low at 1.3881 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3902 mark. A daily close above 1.3899…
It made intraday high at 1.3894 and low at 1.3881 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.3902 mark.
A daily close above 1.3899 will test key resistances at 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3842 will drag the parity down towards key supports at 1.3794, 1.3754 and 1.3670 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position on USD/SGD only above 1.3902, stop loss at 1.3870 and target of 1.3945/1.3984.
