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- USD/SGD is currently trading around 1.3826 marks.
- It made intraday high at 1.3837 and low at 1.3806 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 1.3820 will test key resistances at 1.3868, 1.3918, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
- Alternatively, a consistent close below 1.3820 will drag the parity down towards key supports at 1.3776/1.3704/1.3631 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on USD/SGD only above 1.3868, stop loss 1.3806 and target of 1.3988.
