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FxWirePro: USD/SGD remains well supported above 1.44 mark, stay bullish

  • USD/SGD is currently trading around 1.4470 marks.
     
  • It made intraday high at 1.4474 and low at 1.4436 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.4406 mark.
     
  • A sustained close above 1.4460 will test key resistances at 1.4506, 1.4533, 1.4686 and 1.4851 levels respectively.
     
  • Alternatively, a consistent close below 1.4460 will drag the parity down towards key supports at 1.4406/1.4357/1.4219/1.4150/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 go long on USD/SGD only above 1.4475, stop loss at 1.4433 and target of 1.4506/1.4533/1.4662.

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