- USD/SGD is currently trading around 1.3414 marks.
- It made intraday high at 1.3422 and low at 1.3391 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3422 marks.
- A daily close below 1.3400 will drag the parity down towards key supports at 1.3367/1.3313/1.3302/ 1.3271 levels.
- Alternatively, a sustained close above 1.3422 will test key resistances at 1.3492, 1.3537, 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
We prefer to take short position in USD/SGD around 1.3418, stop loss at 1.3492 and target 1.3367/1.3313.
