- USD/SGD is currently trading around 1.3842 marks.
- It made intraday high at 1.3867 and low at 1.3799 levels.
- Intraday bias remains bullish for the moment.
- A daily close above 1.3812 will test key resistances at 1.3878, 1.3942 and 1.3988 marks respectively.
- Alternatively, a consistent close below 1.3812 will drag the parity down towards key supports at 1.3748, 1.3702, 1.3643 and 1.3590 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 1.3840, stop loss at 1.3790 and target of 1.39/1.3942.
