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FxWirePro: USD/SGD spikes up in early Asia, hits highest level since May 2017

  • USD/SGD is currently trading around 1.4004 marks.
     
  • It made intraday high at 1.4087 and low at 1.3938 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.3942 mark.
     
  • A daily close above 1.3945 will test key resistances at 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
     
  • Alternatively, a consistent close below 1.3942 will drag the parity down towards key supports at 1.3852, 1.3790, 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 1.3970, stop loss 1.3895 and target of 1.4128/1.4188/1.4234.

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