FxWirePro: USD/SGD hits fresh 6-month low at 1.3891 mark, good to sell on rallies

• USD/SGD is currently trading around 1.3907 marks.
   
• It made intraday high at 1.3920 and low at 1.3891 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3959 marks. 
   
• A daily close above 1.3905 will test key resistances at 1.3959, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.3905 will drag the parity down towards key supports at 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.

We prefer to take short position in USD/SGD around 1.3912, stop loss 1.3959 and target of 1.3851/1.3790.