- USD/SGD is currently trading around 1.4160 marks.
- It made intraday high at 1.4178 and low at 1.4158 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.4199 marks.
- A daily close above 1.4199 will test key resistances at 1.4297, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
- Alternatively, a consistent close below 1.4165 will drag the parity down towards key supports at 1.4128/1.4083/1.3972/1.3819/1.3775/1.3704/1.3646 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/SGD around 1.4170, stop loss 1.4199 and target of 1.4128/1.4083.
