- USD/SGD is currently trading around 1.3654 marks.
- It made intraday high at 1.3670 and low at 1.3651 levels.
- Intraday bias remains bearish for the moment.
- A daily close above 1.3670 will test key resistances at 1.3699, 1.3760, 1.3838, 1.3854, 1.3896 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3670 will drag the parity down towards key supports at 1.3625, 1.3599 and 1.3570 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to take long position on USD/SGD only above 1.3672, stop loss at 1.3625 and target of 1.3760.
