FxWirePro: USD/SGD rejects key resistance at 1.3637 mark, bias turns bearish again

• USD/SGD is currently trading around 1.3602 marks.
   
• It made intraday high at 1.3622 and low at 1.3601 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3637 mark.
   
• A daily close above 1.3637 will test key resistances at 1.3692, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
   
• Alternatively, a consistent close below 1.3637 will drag the parity down towards key supports at 1.3562/1.3510/1.3492/1.3460/1.3418/1.3346/1.3217/1.3164/1.3005 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 1.3610, stop loss 1.3637 and target of 1.3510.

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