- USD/SGD is currently trading around 1.3585 marks.
- It made intraday high at 1.3611 and low at 1.3584 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3640 mark.
- A daily close above 1.3637 will test key resistances at1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
- Alternatively, a consistent close below 1.3603 will drag the parity down towards key supports at 1.3580, 1.3522 and 1.3490 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 on USD/SGD around 1.3600, stop loss at 1.3640 and target of 1.3522.
