FxWirePro: USD/SGD hits fresh 2-month high at 1.4124, consistent close above targets 1.4219

• USD/SGD is currently trading around 1.4097 marks.
   
• It made intraday high at 1.4117 and low at 1.4096 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.4116 marks. 
   
• A daily close above 1.4116 will test key resistances at 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.4116 will drag the parity down towards key supports at 1.4054/1.4001/1.3964/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position in USD/SGD only above1.4116, stop loss 1.4054 and target of 1.4219.