FxWirePro: USD/SGD trades in narrow range, faces immediate support at 1.3692 mark

• USD/SGD is currently trading around 1.3714 marks.
   
• It made intraday high at 1.3721 and low at 1.3708 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3708 mark.
   
• A daily close above 1.3714 will test key resistances at 1.3775, 1.3818, 1.3854 and 1.3905 levels respectively.
   
• Alternatively, a consistent close below 1.3714 will drag the parity down towards key supports at 1.3692/1.3615/1.3570 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 1.3708, stop loss at 1.3735 and target of 1.3692/1.3650.