FxWirePro: USD/SGD back above 1.3550 mark, short term trend reversal likely

• USD/SGD is currently trading around 1.3554 marks.
   
• It made intraday high at 1.3565 and low at 1.3550 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3581 mark.
   
• A daily close above 1.3561 will test key resistances at 1.3581, 1.3602, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3561 will drag the parity down towards key supports at 1.3499, 1.3515, 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 long position on USD/SGD only above 1.3565, stop loss at 1.3515 and target of 1.3602/1.3672.