FxWirePro: USD/SGD trades in narrow range, bias remains neutral

• USD/SGD is currently trading around 1.3941 marks.
   
• It made intraday high at 1.3947 and low at 1.3934 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3908 marks.
   
• A daily close above 1.3935 will test key resistances at 1.3988, 1.4020, 1.4064, 1.4090, 1.4160, 1.4219, 1.4266, 1.4327, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
   
• Alternatively, a consistent close below 1.3935 will drag the parity down towards key supports at 1.3900/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in USD/SGD only below 1.3908, stop loss 1.3988 and target of 1.3851.