- USD/SGD is currently trading around 1.3562 marks.
- It made intraday high at 1.3571 and low at 1.3554 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3602 mark.
- A daily close above 1.3556 will test key resistances at 1.3602, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3556 will drag the parity down towards key supports at 1.3510, 1.3422 and 1.3315 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 short position on USD/SGD around 1.3570, stop loss at 1.3602 and target of 1.3510/1.3422.
