FxWirePro: Singapore dollar strengthens remarkably against U.S. dollar, hits highest level since March 2019

• USD/SGD is currently trading around 1.3492 marks.
   
• It made intraday high at 1.3525 and low at 1.3492 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3557 mark.
   
• A daily close above 1.3520 will test key resistances at 1.3590, 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3520 will drag the parity down towards key supports at 1.3490, 1.3447 and 1.3387 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 1.3500, stop loss at 1.3527 and target of 1.3447.