- USD/SGD is currently trading around 1.3786 marks.
- It made intraday high at 1.3826 and low at 1.3773 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3828 mark.
- A daily close above 1.3828 will test key resistances at 1.3848, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3785 will drag the parity down towards key supports at 1.3738, 1.3667, 1.3622 and 1.3580 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 short position on USD/SGD only below 1.3770, stop loss at 1.3826 and target of 1.3738/1.37.
