FxWirePro: USD/SGD exhibits range bound movement, bias remains neutral

• USD/SGD is currently trading around 1.3959 marks.
   
• It made intraday high at 1.3964and low at 1.3936 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3955 marks.
   
• A daily close above 1.3940 will test key resistances at 1.3987, 1.4028, 1.4064, 1.4090, 1.4160, 1.4219, 1.4266, 1.4327, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
   
• Alternatively, a consistent close below 1.3940 will drag the parity down towards key supports at 1.3908/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

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.