- USD/SGD is currently trading around 1.4047 marks.
- It made intraday high at 1.4051 and low at 1.4006 levels.
- Intraday bias remains neutral till the time pair holds key support at 1.4006 marks.
- A daily close above 1.4012 will test key resistances at 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 1.4012 will drag the parity down towards key supports at 1.3975/1.3851/1.3775/1.3704/1.3646 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position in USD/SGD around 1.4065, stop loss 1.4120 and target of 1.4006/1.3975/1.3920.
