2017.05.2122:18:00UTC+00Fxwirepro: Usd/sgd Hits Fresh 6-Month Low at 1.3838 Mark, Faces Strong Support at 1.3819

• USD/SGD is currently trading around 1.3866 marks.
   
• It made intraday high at 1.3877 and low at 1.3855 levels.


• Intraday bias remains bearish till the time pair holds key resistance at 1.3934 marks. 
   
• A daily close above 1.3858 will test key resistances at 1.3934, 1.3988, 1.4046, 1.4095, 1.4128, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.3858 will drag the parity down towards key supports at 1.3776/1.3704/1.3631 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position in USD/SGD only below 1.3858, stop loss 1.3934 and target of 1.3776.