FxWirePro: Singapore dollar hits fresh weekly high against US dollar, good to sell on rallies

• USD/SGD is currently trading around 1.3407 marks.
   
• It made intraday high at 1.3465 and low at 1.3404 levels.
   
• Intraday bias remains bearish till the time pair holds initial resistance at 1.3489 levels.
   
• A daily close below 1.3420 will drag the parity down towards 1.3352/1.3318/1.3302 levels.
   
• On the other side, a sustained close above 1.3489 tests key resistances at 1.3561/1.3628/1.3772/ 1.3817/ 1.3842 marks respectively.
   
• Today Singapore will release bank lending rate at 0200 GMT.  

We prefer to take short position in USD/SGD around 1.3421, stop loss 1.3489 and target 1.3361/1.3302 levels.