FxWirePro: Singapore dollar slips off 9 –month high against US dollar, good to buy on dips

• USD/SGD is currently trading around 1.3405 marks.
   
• It made intraday high at 1.3416 and low at 1.3359 levels.
   
• Intraday bias remains neutral till the time pair holds initial resistance at 1.3423 levels.
   
• A daily close below 1.3352 will drag the parity down towards 1.3318/1.3302 levels.
   
• A sustained close above 1.3423 tests key resistances at 1.3488/1.3552/1.3628/1.3772/ 1.3817/ 1.3842 marks respectively.
   
• Important to note here that, 20D, 30D and 55D EMA heads down in daily chart and confirms bearish trend.

We prefer to take long position in USD/SGD only above 1.3423, stop loss 1.3352 and target 1.3488/1.3552 levels.