- USD/SGD is currently trading around 1.4278 marks.
- It made intraday high at 1.4315 and low at 1.4266 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.4292 mark.
- A daily close above 1.4292 will test key resistances at 1.4357, 1.4426, 1.4546 and 1.47 marks respectively.
- Alternatively, a consistent close below 1.4292 will drag the parity down towards key supports at 1.4210, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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 1.4270, stop loss 1.4250 and target of 1.4357/1.4426.
