- USD/SGD is currently trading around 1.3798 marks.
- It made intraday high at 1.3805 and low at 1.3787 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3792 marks.
- A daily close above 1.3792 will test key resistances at 1.3838, 1.3854, 1.3896 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3792 will drag the parity down towards key supports at 1.3750, 1.3722, 1.3690, 1.3650, 1.3625, 1.3599 and 1.3570 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 around 0500 GMT.
We prefer to take short position on USD/SGD around 1.3800, stop loss at 1.3830 and target of 1.3722.