2017.05.2821:32:00UTC+00Fxwirepro: Singapore Dollar Trades Marginally Lower in Early Hours of Asia, Faces Immediate Support at 1.3808 Mark

• USD/SGD is currently trading around 1.3832 marks.
   
• It made intraday high at 1.3834 and low at 1.3817 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3808 marks. 
   
• A daily close above 1.3817 will test key resistances at 1.3869, 1.3918, 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 1.3817 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. Current upside movement is short term trend correction only.

We prefer to take short position in USD/SGD only below 1.3817, stop loss 1.3869 and target of 1.3704.