FxWirePro: Singapore dollar erases previous gain against U.S. dollar, bias turns bullish again

• USD/SGD is currently trading around 1.3725 marks.
   
• It made intraday high at 1.3732 and low at 1.3716 levels.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 1.3720 will test key resistances at 1.3775, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
   
• Alternatively, a consistent close below 1.3720 will drag the parity down towards key supports at 1.3690/1.3668/1.3620/1.3570/1.3510 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 1.3740, stop loss at 1.3690 and target of 1.3790.