FxWirePro: USD/SGD hovers around 1.43 mark, consistent close below requires for downside rally

• USD/SGD is currently trading around 1.4308 marks.
   
• It made intraday high at 1.4326 and low at 1.4298 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.4300 mark.
   
• A daily close above 1.4300 will test key resistances at 1.4360, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
   
• Alternatively, a consistent close below 1.4300 will drag the parity down towards key supports at 1.4250, 1.4208, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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 short position on USD/SGD only below 1.4290, stop loss at 1.4350 and target of 1.4208.