FxWirePro: USD/SGD breaks key support at 1.4177 mark, intraday bias remains bearish

• USD/SGD is currently trading around 1.4160 marks.
   
• It made intraday high at 1.4174 and low at 1.4150 levels.
   
• Intraday bias remains bearish for the moment.
   
• A sustained close above 1.4270 will test key resistances at 1.4335, 1.4443, 1.4481 and 1.4556 levels respectively.
   
• Alternatively, a consistent close below 1.4168 will drag the parity down towards key supports at 1.4128/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.