FxWirePro: USD/SGD hovers around 1.35 mark; stay bearish

                     

• USD/SGD is currently trading around 1.3501 marks.
   
• It made intraday high at 1.3515 and low at 1.3488 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3538 marks. 
   
• A daily close below 1.3488 will drag the parity down towards key supports at 1.3452/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
   
• Alternatively, a sustained close above 1.3538 will test key resistances at 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
   
• Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend.

We prefer to go short on USD/SGD around 1.3510 with stop loss at 1.3552 and target of 1.3422/1.3347.