- USD/SGD is currently trading around 1.3758 marks.
- It made intraday high at 1.3778 and low at 1.3752 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3780 mark.
- A daily close above 1.3780 will test key resistances at 1.3813, 1.3854 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3780 will drag the parity down towards key supports at 1.3690, 1.3650, 1.3625, 1.3599, 1.3570, 1.3522, 1.3490 and 1.3422 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 only above 1.3780, stop loss at 1.3720 and target of 1.3854.