FxWirePro: USD/SGD surprisingly spikes up after Central bank’s comment; hits highest level since Oct 10, 2019

• USD/SGD is currently trading around 1.3807 marks.
   
• It made intraday high at 1.3823 and low at 1.3699 levels.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 1.3826 will test key resistances at 1.3828, 1.3878 and 1.3942 marks respectively.
   
• Alternatively, a consistent close below 1.3700 will drag the parity down towards key supports at 1.3643, 1.3590, 1.3550, 1.3457, 1.3387, 1.3350 and 1.3267 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Central Bank: Sufficient room to ease currency if there is there any downside pressure for the economy due to impact of the Corona virus.

Positioning is inconclusive at this point. We remain sideways for the time being.