FxWirePro: Singapore dollar gains in early hours of Asia, sustained break below 1.3704 targets 1.3646

• USD/SGD is currently trading around 1.3718 marks.
   
• It made intraday high at 1.3742 and low at 1.3718 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3704 marks.
   
• A sustained close above 1.3743 will test key resistances at 1.3799, 1.3842, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
   
• Alternatively, a consistent break below 1.3704 will drag the parity down towards key supports at 1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current down side movement is short term trend correction only.

We prefer to go short on USD/SGD only below 1.3704 with stop loss at 1.3760 and target of 1.3646/1.3587.