24.05.201722:38:00UTC+00Fxwirepro: Usd/sgd Hovers Around Key Support at 1.3838, sustained Close Below Targets 1.3704 Mark

• USD/SGD is currently trading around 1.3840 marks.
   
• It made intraday high at 1.3856 and low at 1.3838 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3918 marks. 
   
• A daily close above 1.3845 will test key resistances at 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 1.3838 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 1.3838, stop loss 1.3918 and target of 1.3704.