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FxWirePro: EUR/NZD shows upside momentum, but bearish outlook remains 
- USD/SGD is currently trading around 1.3426 marks.
- It made intraday high at 1.3437 and low at 1.3418 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3437 levels.
- A daily close below 1.3422(April 11, 2016 low) will drag the parity down towards key supports at 1.3357 (April 20, 2016 low) /1.3318/1.3302 levels.
- Alternatively, reversal from key support will test key resistances at 1.3493, 1.3622, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
- Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend. Current upside movement is short term trend correction only.
We prefer to take long position in USD/SGD only above 1.3437, stop loss 1.3394 and target 1.3493/ 1.3518 marks.
