FxWirePro: Singapore dollar rises in early Asia, faces immediate support at 1.3690 mark

• USD/SGD is currently trading around 1.3714 marks.
   
• It made intraday high at 1.3727 and low at 1.3701 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3752 marks.
   
• A daily close above 1.3720 will test key resistances at 1.3780, 1.3820, 1.3854 and 1.3905 levels respectively.
   
• Alternatively, a consistent close below 1.3720 will drag the parity down towards key supports at 1.3690/1.3652/1.3607/1.3570/1.3510/1.3450 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on USD/SGD only below 1.3690, stop loss at 1.3752 and target of 1.3652.