FxWirePro: USD/SGD remains well supported below 1.3550 mark, upside limited

• USD/SGD is currently trading around 1.3512 marks.
   
• It made intraday high at 1.3529 and low at 1.3507 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3550 mark.
   
• A daily close above 1.3550 will test key resistances at 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
   
• Alternatively, a consistent close below 1.3510 will drag the parity down towards key support at 1.3479/1.3452/1.3432/1.3396/1.3346/1.3217/1.3164/1.3005 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore Q3 final unemployment rate 2.2 pct vs advance estimate of 2.1 pct.
   
• Singapore Q3 total employment -2,300.

We prefer to take short position in USD/SGD only below 1.3500, stop loss 1.3550 and target of 1.3452.

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