FxWirePro: USD/SGD rejects key support at 1.3784 mark, intraday bias remains neutral

• USD/SGD is currently trading around 1.3825 marks.
   
• It made intraday high at 1.3838 and low at 1.3818 levels.


• Intraday bias remains neutral for the moment.
   
• A daily close above 1.3825 will test key resistances at 1.3868, 1.3918, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.3825 will drag the parity down towards key supports at 1.3776/1.3704/1.3631 levels respectively.


• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside 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.