FxWirePro: USD/SGD moves in stiff boundaries, sustained close below 1.3390 requires for downside rally

• USD/SGD is currently trading around 1.3390 marks.
   
• It made intraday high at 1.3421 and low at 1.3390 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3390 mark.
   
• A daily close above 1.3421 will test key resistances at 1.3482, 1.3532 and 1.3587 levels respectively.
   
• Alternatively, a consistent close below 1.3390 will drag the parity down towards key support at 1.3350/1.3311/1.3255/1.3218 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 around 1.3398, stop loss 1.3422 and target of 1.3350/1.3311.

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