FxWirePro: USD/SGD rejects key resistance at 1.3838 mark, short term trend reversal likely

• USD/SGD is currently trading around 1.3794 marks.
   
• It made intraday high at 1.3816 and low at 1.3792 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3838 marks.
   
• A daily close above 1.3810 will test key resistances at 1.3838, 1.3854, 1.3896 and 1.3945 marks respectively.
   
• Alternatively, a consistent close below 1.3753 will drag the parity down towards key supports at 1.3722, 1.3690, 1.3650, 1.3625, 1.3599 and 1.3570 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 long position on USD/SGD only above 1.3838, stop loss at 1.3790 and target of 1.3896.