- USD/SGD is currently trading around 1.3409 marks.
- It made intraday high at 1.3418 and low at 1.3385 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 1.3443 marks.
- A daily close below 1.3353 will drag the parity down towards key supports at 1.3313/1.3302/ 1.3271 levels.
- Alternatively, a sustained close above 1.3443 will test key resistances at 1.3537, 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
We prefer to take short position in USD/SGD around 1.3420 with stop loss at 1.3452 and target of 1.3353/1.3313.
