- USD/SGD is currently trading around 1.3592 marks.
- It made intraday high at 1.3633 and low at 1.3592 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3640 marks.
- A daily close above 1.3630 will test key resistances at 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3630 will drag the parity down towards key supports at 1.3572, 1.3520 and 1.3454 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 short position on USD/SGD around 1.3605, stop loss at 1.3650 and target of 1.3520.