FxWirePro: USD/SGD fails to fall below 1.35 mark, short term trend reversal likely

• USD/SGD is currently trading around 1.3548 marks.
   
• It made intraday high at 1.3551 and low at 1.3534 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3537 mark.
   
• A daily close above 1.3537 will test key resistances at 1.3590, 1.3637, 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
   
• Alternatively, a consistent close below 1.3537 will drag the parity down towards key supports at 1.3490, 1.3447 and 1.3387 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 short position on USD/SGD around 1.3570, stop loss at 1.3590 and target of 1.3520/1.3490/1.3447.