Fxwirepro: Singapore Dollar Gains in Early Hours of Asia, Intraday Bias Remains Bearish

USD/SGD is currently trading around 1.4239 marks.
It made intraday high at 1.4283 and low at 1.4236 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4345 marks.
A sustained close above 1.4280 will test key resistances at 1.4345, 1.4443, 1.4481 and 1.4556 levels respectively.
Alternatively, a consistent close below 1.4280 will drag the parity down towards key supports at 1.4201/1.4128/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go short on USD/SGD around 1.4250 with stop loss at 1.4345 and target of 1.4201/1.4128.

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