FxWirePro: Singapore dollar remains almost unchanged after URA property index data

• USD/SGD is currently trading around 1.3483 marks.
   
• It made intraday high at 1.3491 and low at 1.3481 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3457 mark.
   
• A daily close above 1.3500 will test key resistances at 1.3537, 1.3590, 1.3637, 1.3670, 1.3706, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3487 will drag the parity down towards key supports at 1.3457, 1.3387, 1.3350 and 1.3267 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’s URA property index q/q stands at 0.5 pct vs 0.3 pct previous release.

We prefer to take short position on USD/SGD around 1.3490, stop loss at 1.3515 and target of 1.3457/1.3387.