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FxWirePro: USD/SGD back above 1.4350 mark, stay long

  • USD/SGD is currently trading around 1.4362 marks.
     
  • It made intraday high at 1.4384 and low at 1.4343 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.4290 mark.
     
  • A daily close above 1.4360 will test key resistances at 1.4383, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
     
  • Alternatively, a consistent close below 1.4360 will drag the parity down towards key supports at 1.4304, 1.4250, 1.4208, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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 long position on USD/SGD around 1.4350, stop loss at 1.4300 and target of 1.4444.

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