FxWirePro: USD/SGD takes halt around 1.3370 mark, downside limited

• USD/SGD is currently trading around 1.3344 marks.
   
• It made intraday high at 1.3367 and low at 1.3336 levels.
   
• Intraday bias remains neutral till the time pair holds immediate resistance at 1.3370 mark.
   
• A daily close above 1.3364 will test key resistances at 1.3438, 1.3482, 1.3532 and 1.3587 levels respectively.
   
• Alternatively, a consistent close below 1.3364 will drag the parity down towards key support at 1.3315/1.3255/1.3218/1.3150/1.3076/1.3005 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 term trend correction only.

We prefer to take long position on USD/SGD only above 1.3370, stop loss 1.3315 and target of 1.3482.

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