- USD/SGD is currently trading around 1.3632 marks.
- It made intraday high at 1.3638 and low at 1.3613 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.3613 mark.
- A daily close above 1.3625 will test key resistances at 1.3676, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
- Alternatively, a consistent close below 1.3625 will drag the parity down towards key supports at 1.3601/1.3554/1.3512 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
- Singapore will release CPI, core CPI data at 0500 GMT.
We prefer to take short position in USD/SGD only below 1.3612, stop loss 1.3676 and target of 1.3554.
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