- USD/SGD is currently trading around 1.3705 marks.
- It made intraday high at 1.3706 and low at 1.3691 levels.
- Intraday bias remains bullish for the moment but upside is limited.
- A sustained close above 1.3728 tests key resistances at 1. 3772/ 1.3817/ 1.3842 marks respectively.
- On the other side, reversal from key resistance will turn the bias bearish again and drag the parity down towards 1.3628/1.3481/1.3440/ 1.3404 levels.
- Important to note here that overall trend remains bearish as 20D, 30D and 55D EMA heads down and confirms bearish trend.
We prefer to take long position in USD/SGD only above 1.3728, stop loss 1.3628 and target 1.3817 levels.
The material has been provided by InstaForex Company – www.instaforex.com