- USD/SGD is currently trading around 1.3657 marks.
- It made intraday high at 1.3657 and low at 1.3623 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3622 mark.
- 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 1.3622 will drag the parity down towards key supports at 1.3599, 1.3570, 1.3518 and 1.3458 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 around 1.3672, stop loss at 1.3690 and target of 1.3622/1.3599.
