FxWirePro: USD/SGD recovers from fresh monthly low, good to buy on dips

• USD/SGD is currently trading around 1.3612 marks.
   
• It made intraday high at 1.3625 and low at 1.3558 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3554 levels.
   
• A daily close below 1.3554 will drag the parity down towards key supports at 1.3420 (April 13, 2016 low) /1.3357 (April 20, 2016 low) /1.3318/1.3302 levels.
   
• Alternatively, a sustained close above 1.3726 is required to test key resistances at 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
   
• Important to note here that, 20D, 30D and 55D EMA heads up and confirm the bullish trend in a daily chart.

We prefer to take long position in USD/SGD around 1.3600, stop loss 1.3548 and target 1.3726 marks.