FxWirePro: Singapore dollar rises noticeably against U.S. dollar, stay bearish

• USD/SGD is currently trading around 1.3688 marks.
   
• It made intraday high at 1.3710 and low at 1.3687 levels.
   
• Intraday bias remains bearish for the moment.
   
• A daily close above 1.3710 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 1.3710 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.

We prefer to take short position on USD/SGD around 1.3700, stop loss at 1.3740 and target of 1.3668/1.3620.