- USD/SGD is currently trading around 1.3590 marks.
- It made intraday high at 1.3595 and low at 1.3586 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3610 mark.
- A daily close above 1.3590 will test key resistances at 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3590 will drag the parity down towards key supports at 1.3538, 1.3499, 1.3465, 1.3422 and 1.3315 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/SGD only above 1.3610, stop loss at 1.3575 and target of 1.3675.
