FxWirePro: Singapore dollar sharply lower against USD in early hours of Asia, faces strong resistance at 1.3537

• USD/SGD is currently trading around 1.3515 marks.
   
• It made intraday high at 1.3523 and low at 1.3453 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3452 marks. 
   
• A daily close below 1.3452 will drag the parity down towards key supports at 1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
   
• Alternatively, a sustained close above 1.3537 will test key resistances at 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
   
• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
   

We prefer to go short on USD/SGD around 1.3525 with stop loss at 1.3612 and target of 1.3422/1.3347.