FxWirePro: Singapore dollar trades marginally higher in early Asia, downside limited

• USD/SGD is currently trading around 1.3751 marks.
   
• It made intraday high at 1.3772 and low at 1.3749 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3772 marks.
   
• A daily close above 1.3762 will test key resistances at 1.3818, 1.3854 and 1.3905 levels respectively.
   
• Alternatively, a consistent close below 1.3762 will drag the parity down towards key supports at 1.3690/1.3652/1.3607/1.3570/1.3510/1.3450 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take long position on USD/SGD around 1.3740, stop loss at 1.3690 and target of 1.3818.