FxWirePro: USD/SGD hovers around key resistance at 1.3375 mark, sustained close above targets 1.3438 mark

• USD/SGD is currently trading around 1.3354 marks.
   
• It made intraday high at 1.3369 and low at 1.3349 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3375 mark.
   
• A daily close above 1.3352 will test key resistances at 1.3375, 1.3438, 1.3532, 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
   
• Alternatively, a consistent close below 1.3352 will drag the parity down towards key support at 1.3308/1.3259/1.3217/1.3164/1.3015 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position in USD/SGD only above 1.3375, stop loss 1.3307 and target of 1.3438/1.3498.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest