FxWirePro: Singapore dollar depreciates noticeably against U.S. dollar, good to buy on dips

• USD/SGD is currently trading around 1.3617 marks.
   
• It made intraday high at 1.3636 and low at 1.3616 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3550 mark.
   
• A daily close above 1.3620 will test key resistances at 1.3638, 1.3672 and 1.3740 marks respectively.
   
• Alternatively, a consistent close below 1.3620 will drag the parity down towards key supports at 1.3570, 1.3522, 1.3490, 1.3422, 1.3378 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. Current upside movement is short term trend correction only.

We prefer to take long position on USD/SGD around 1.3600, stop loss at 1.3570 and target of 1.3672.