FxWirePro: USD/SGD hits fresh 3-week high at 1.3270 mark, stay bullish

• USD/SGD is currently trading around 1.3266 marks.
   
• It made intraday high at 1.3270 and low at 1.3234 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3168 mark.
   
• A daily close above 1.3254 will test key resistances at 1.3274, 1.3302, 1.3353, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3254 will drag the parity down towards key support at 1.3168/1.3080/1.3005/1.2855/1.2754 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 around 1.3260, stop loss 1.3220 and target of 1.3353.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest