FxWirePro: USD/SGD trades in narrow range, stay bearish only below 1.3076 mark

• USD/SGD is currently trading around 1.3087 marks.
   
• It made intraday high at 1.3098 and low at 1.3076 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3076 mark.
   
• A daily close above 1.3091 will test key resistances at 1.3120, 1.3170, 1.3202, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3091 will drag the parity down towards key support at 1.3052/1.3005/1.2855/1.2754 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/SGD only below 1.3076, stop loss at 1.3120 and target of 1.3052/1.3005.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invests