FxWirePro: USD/SGD rejects key resistance at 1.3692 mark, stay neutral

• USD/SGD is currently trading around 1.3642 marks.
   
• It made intraday high at 1.3646 and low at 1.3633 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3692 mark.
   
• A daily close above 1.3692 will test key resistances at 1.3745, 1.3788, 1.3854 and 1.3905 levels respectively.
   
• Alternatively, a consistent close below 1.3643 will drag the parity down towards key support at 1.3615/1.3570/1.3530/1.3496/1.3430/1.3390 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.