FxWirePro: Singapore dollar depreciates in early Asia, bias remains bullish

• USD/SGD is currently trading around 1.3252 marks.
   
• It made intraday high at 1.3255 and low at 1.3232 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3192 marks.
   
• A daily close above 1.3237 will test key resistances at 1.3255, 1.3290, 1.3340, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3237 will drag
   
• the parity down towards key support at 1.3192/1.3132/1.3090/1.3005/1.2855/1.2754 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 around 1.3245, stop loss at 1.3192 and target of 1.3290/1.3340.

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