- USD/SGD is currently trading around 1.3560 marks.
- It made intraday high at 1.3562 and low at 1.3547 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3572 mark.
- A daily close above 1.3572 will test key resistances at 1.3590, 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3537 will drag the parity down towards key supports at 1.3490, 1.3447 and 1.3387 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Singapore will release CPI data around 0500 GMT.
We prefer to take long position on USD/SGD only above 1.3572, stop loss at 1.3540 and target of 1.3590/1.3637.
