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- Pair is currently trading at 1.3934 levels.
- It made intraday high at 1.40 and low at 1.3905 levels.
- Intraday bias remains bearish till the time pair holds key resistance level at 1.40 levels.
- On the other side, key support falls at 1.3862 levels.
- A daily close above key resistance will drag the parity towards 1.4284 levels.
- In addition, 20, 30 and 55D EMA heads down, which confirms the bearish trend.
We prefer to take short position in USD/SGD around 1.3930, stop loss 1.4044 levels and target 1.3727 levels.
