- USD/SGD is currently trading around 1.3563 marks.
- It made intraday high at 1.3578 and low at 1.3544 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3545 mark.
- A daily close above 1.3550 will test key resistances at 1.3585, 1.3615, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
- Alternatively, a consistent close below 1.3550 will drag the parity down towards key supports at 1.3545/1.3512/1.3435/1.3347 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/SGD only below 1.3545, stop loss at 1.3585 and target of 1.3512/1.3488.
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