FxWirePro: USD/SGD spikes down to 1.4215 mark in early Asia, stay long only above 1.4310 mark

• USD/SGD is currently trading around 1.4276 marks.
   
• It made intraday high at 1.4297 and low at 1.4215 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.4310 mark.
   
• A daily close above 1.4249 will test key resistances at 1.4310, 1.4383, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
   
• Alternatively, a consistent close below 1.4249 will drag the parity down towards key supports at 1.4210, 1.4174, 1.4102, 1.4044, 1.3938 and 1.3870 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.

We prefer to take long position on USD/SGD only above 1.4310, stop loss 1.4210 and target of 1.4383/1.4542.