- USD/SGD is currently trading around 1.3580 marks.
- It made intraday high at 1.3594 and low at 1.3574 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3576 mark.
- A daily close above 1.3590 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3576 will drag the parity down towards key supports at 1.3522, 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.
We prefer to take long position on USD/SGD only above 1.3611, stop loss at 1.3575 and target of 1.3637/1.3670.
