FxWirePro: USD/SGD stabilizes below 1.3600 mark, stay bearish only below 1.3585 mark

• USD/SGD is currently trading around 1.3589 marks.
   
• It made intraday high at 1.3601 and low at 1.3586 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3585 mark.
   
• A daily close above 1.3590 will test key resistances at 1.3652, 1.3715, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
   
• Alternatively, a consistent close below 1.3590 will drag the parity down towards key supports at 1.3570/1.3510/1.3492/1.3460/1.3418/1.3346/1.3217/1.3164/1.3005 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 short position on USD/SGD only below 1.3585, stop loss at 1.3652 and target of 1.3510.

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