FxWirePro: Singapore dollar falls in early Asia despite higher than expected URA property index

• USD/SGD is currently trading around 1.3604 marks.
   
• It made intraday high at 1.3605 and low at 1.3572 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1.3572 mark.
   
• A daily close above 1.3600 will test key resistances at 1.3622, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
   
• Alternatively, a consistent close below 1.3572 will drag the parity down towards key supports at 1.3542/1.3502/1.3460/1.3401/1.3346/1.3217/1.3164/1.3005 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.
   
• Singapore Q3 private home prices +0.5 pct qtr/qtr.
   
• Singapore private home prices rise in Q3 for first time in 4 years.

We prefer to take short position in USD/SGD around 1.3615, stop loss 1.3650 and target of 1.3502.

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