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FxWirePro: USD/CNY downside pressure builds, key support level In focus 
- USD/SGD is currently trading around 1.4274 marks.
- It made intraday high at 1.4291 and low at 1.4252 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 1.4269 will test key resistances at 1.4392, 1.4437, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
- Alternatively, a consistent close below 1.4269 will drag the parity down towards key supports at 1.4202/1.4150/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 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 trend correction only.
We prefer to take short position in USD/SGD around 1.4280, stop loss 1.4350 and target of 1.4150.
