- USD/SGD is currently trading around 1.3703 marks.
- It made intraday high at 1.3708 and low at 1.3661 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3650 mark.
- A daily close above 1.3664 will test key resistances at 1.3728, 1.3775, 1.3818, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3664 will drag the parity down towards key supports at 1.3620/1.3570/1.3510 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Sngapore will release CPI as well as core CPI data at 0500 GMT.
We prefer to take long position on USD/SGD around 1.3690, stop loss at 1.3650 and target of 1.3775.
