FxWirePro: USD/SGD takes halt around 1.4568 mark, further sideways movement likely

• USD/SGD is currently trading around 1.4511 marks.
   
• It made intraday high at 1.4542 and low at 1.4483 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.4568 mark.
   
• A daily close above 1.4520 will test key resistances at 1.4568, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
   
• Alternatively, a consistent close below 1.4520 will drag the parity down towards key supports at 1.4383, 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.

We prefer to take short position on USD/SGD around 1.4515, stop loss 1.4550 and target of 1.4383.