FxWirePro: Singapore dollar trades marginally higher in early Asia, consistent close below 1.3552 targets 1.3422 mark

• USD/SGD is currently trading around 1.3540 marks.
   
• It made intraday high at 1.3552 and low at 1.3528 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3552 mark.
   
• A daily close above 1.3552 will test key resistances at 1.3570, 1.3590, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3552 will drag the parity down towards key supports at 1.3490, 1.3470, 1.3422, 1.3378 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 long position on USD/SGD only above 1.3552, stop loss at 1.3500 and target of 1.3590/1.3615.