FxWirePro: USD/SGD hovers around 1.36 mark, good to sell on rallies

• USD/SGD is currently trading around 1.3606 marks.
   
• It made intraday high at 1.3608 and low at 1.3606 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3637 mark.
   
• A daily close above 1.3604 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
   
• Alternatively, a consistent close below 1.3604 will drag the parity down towards key supports at 1.3590, 1.3570, 1.3522, 1.3490, 1.3447 and 1.3387 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 on USD/SGD around 1.3605, stop loss at 1.3637 and target of 1.3590/1.3570/1.3522.