- USD/SGD is currently trading around 1.3541 marks.
- It made intraday high at 1.3558 and low at 1.3537 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3570 mark.
- A daily close above 1.3549 will test key resistances at 1.3570, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
- Alternatively, a consistent close below 1.3549 will drag the parity down towards key supports at 1.3538, 1.3490, 1.3422, 1.3378 and 1.3315 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- Singapore will release manufacturing PMI data around 1300 GMT.
We prefer to take short position on USD/SGD only below 1.3530, stop loss at 1.3570 and target of 1.3490/1.3422.
