FxWirePro: USD/SGD hits fresh 5-week high at 1.3627, faces strong resistance at 1.3638

                       

• USD/SGD is currently trading around 1.3615 marks.
   
• It made intraday high at 1.3627 and low at 1.3573 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3638 marks. 
   
• A sustained close above 1.3638 will test key resistances at 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
   
• On the other side, a daily close below 1.3532 will drag the parity down towards key supports at 1.3488/1.3452/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
   
• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only

We prefer to go long on USD/SGD only above 1.3638 with stop loss at 1.3532 and target of 1.3799.