- USD/SGD is currently trading around 1.3649 marks.
- It made intraday high at 1.3654 and low at 1.3635 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3634 mark.
- A daily close above 1.3646 will test key resistances at 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3646 will drag the parity down towards key supports at 1.3580, 1.3522 and 1.3490 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 short position on USD/SGD only below 1.3634, stop loss at 1.3670 and target of 1.3580/1.3522.
By Aarti Panchal