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- USD/SGD is currently trading around 1.3567 marks.
- It made intraday high at 1.3569 and low at 1.3556 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3570 mark.
- A daily close above 1.3570 will test key resistances at 1.3590, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3538 will drag the parity down towards key supports at 1.3490, 1.3470, 1.3422, 1.3378 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 1.3570, stop loss at 1.3520 and target of 1.3615.
