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FxWirePro: USD/CNY gains some ground but bearish outlook persists 
- USD/SGD is currently trading around 1.3586 marks.
- It made intraday high at 1.3594 and low at 1.3565 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3527 marks.
- A daily close below 1.3527 will drag the parity down towards key supports at 1.3496/1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
- Alternatively, a sustained close above 1.36 will tests key resistances at 1.3646, 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, 20D, 30D and 55D EMA heads down and confirm the bearish trend. Current upside movement is short term trend correction only.
We prefer to take long position in USD/SGD only above 1.3602, stop loss 1.3562 and target 1.3646/ 1.3799.
