FxWirePro: Singapore dollar marginally higher ahead of manufacturing output data

• USD/SGD is currently trading around 1.3890 marks.
   
• It made intraday high at 1.3905 and low at 1.3876 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3854 marks.
   
• A sustained close above 1.3959 will test key resistances at 1.3989, 1.4045, 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
   
• Alternatively, a consistent break below 1.3854 will drag the parity down towards key supports at 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.
   
• Singapore will release manufacturing output data at 0500 GMT.

We prefer to go long on USD/SGD only above 1.3905 with stop loss at 1.3854 and target of 1.4045/1.4073.