FxWirePro: Singapore dollar trades marginally lower in early Asia, bias remains slightly bullish

• USD/SGD is currently trading around 1.3127 marks.
   
• It made intraday high at 1.3134 and low at 1.3115 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1.3100 mark.
   
• A daily close above 1.3121 will test key resistances at 1.3155, 1.3172, 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3121 will drag the parity down towards key support at 1.3089/1.3052/1.3005/1.2855/1.2754 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.

We prefer to take long position on USD/SGD only above 1.3134, stop loss at 1.3089 and target of 1.3172/1.3232.

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