FxWirePro: Singapore dollar trades marginally higher in early Asia, consistent close below 1.3524 requires for downside rally

• USD/SGD is currently trading around 1.3524 marks.
   
• It made intraday high at 1.3535 and low at 1.3516 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3550 mark.
   
• A daily close above 1.3524 will test key resistances at 1.3548, 1.3581, 1.3602, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3524 will drag the parity down towards key supports at 1.3499, 1.3465, 1.3422 and 1.3315 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 1.3530, stop loss at 1.3548 and target of 1.3422.