- USD/SGD is currently trading around 1.3253 marks.
- It made intraday high at 1.3270 and low at 1.3245 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3202 mark.
- A daily close above 1.3250 will test key resistances at 1.3290, 1.3340, 1.3438 and 1.3532 levels respectively.
- Alternatively, a consistent close below 1.3250 will drag the parity down towards key support at 1.3200/1.3132/1.3090/1.3005/1.2855/1.2754 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.
We prefer to take long position on USD/SGD only above 1.3270, stop loss at 1.3200 and target of 1.3340.
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