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- USD/SGD is currently trading around 1.3628 marks.
- It made intraday high at 1.3639 and low at 1.3625 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3599 mark.
- A daily close above 1.3630 will test key resistances at 1.3672 and 1.3740 marks respectively.
- Alternatively, a consistent close below 1.3599 will drag the parity down towards key supports at 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 short position on USD/SGD only below 1.3599, stop loss at 1.3640 and target of 1.3570/1.3522.
