2016.05.0123:14:00UTC+00Fxwirepro: Usd/sgd Hovers Around Key Support at 1.3420, Intraday Bias Remains Neutral

• USD/SGD is currently trading around 1.3432 marks.
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• It made intraday high at 1.3455 and low at 1.3424 levels.
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• Intraday bias remains neutral till the time pair holds initial support at 1.3420 levels.
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• A daily close below 1.3420 will drag the parity down towards 1.3352/1.3318/1.3302 levels.
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• On the other side, a sustained close above 1.3489 tests key resistances at 1.3561/1.3628/1.3772/ 1.3817/ 1.3842 marks respectively.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.