FxWirePro: USD/SGD hits fresh 8-month low at 1.3708 mark, good to sell on rallies

• USD/SGD is currently trading around 1.3775 marks.
   
• It made intraday high at 1.3777 and low at 1.3743 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3822 mark.
   
• A daily close above 1.3754 will test key resistances at 1.3822, 1.3875, 1.3918, 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 1.3754 will drag the parity down towards key supports at 1.3708/1.3631 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 go short on USD/SGD around 1.3780, stop loss 1.3822 and target of 1.3708.