- USD/SGD is currently trading around 1.3553 marks.
- It made intraday high at 1.3564 and low at 1.3545 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3590 marks.
- A daily close above 1.3563 will test key resistances at 1.3590, 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
- Alternatively, a consistent close below 1.3563 will drag the parity down towards key supports at 1.3520, 1.3454 and 1.3388 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 on USD/SGD around 1.3558, stop loss at 1.3590 and target of 1.3520/1.3454.
