FxWirePro: USD/SGD hovers around key support at 1.4035, sustained close below targets 1.3964

• USD/SGD is currently trading around 1.4037 marks.
   
• It made intraday high at 1.4046 and low at 1.4037 levels.
• Intraday bias remains bearish till the time pair holds key resistance at 1.4095 marks. 
   
• A daily close above 1.4040 will test key resistances at 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.4040 will drag the parity down towards key supports at 1.4001/1.3964/1.3851/1.3775/1.3704/1.3646 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 in USD/SGD around 1.4045, stop loss 1.4095 and target of 1.3964.