FxWirePro: USD/SGD hovers around 1.38 mark, further sideways movement likely

• USD/SGD is currently trading around 1.3802 marks.
   
• It made intraday high at 1.3816 and low at 1.3796 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3785 mark.
   
• A daily close above 1.3813 will test key resistances at 1.3855, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
   
• Alternatively, a consistent close below 1.3785 will drag the parity down towards key supports at 1.3738, 1.3667, 1.3622 and 1.3580 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position on USD/SGD only above 1.3820, stop loss at 1.3780 and target of 1.3855/1.3913.