FxWirePro: Singapore dollar rises ahead of manufacturing output data

• USD/SGD is currently trading around 1.3614marks.
   
• It made intraday high at 1.3635 and low at 1.3601 levels.
   
• Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3638 mark.
   
• A daily close above 1.3630 will test key resistances at 1.3672 and 1.3740 marks respectively.
   
• Alternatively, a consistent close below 1.3630 will drag the parity down towards key supports at 1.3570, 1.3522, 1.3490, 1.3422, 1.3378 and 1.3315 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore Q1 2019 URA property index final decrease to -0.7 % vs previous -0.1 % (revised from -0.6 %).
   
• Singapore Q1 2019 unemployment rate prelim sa stays flat at 2.2 % vs previous 2.2 %.
   
• Singapore will release manufacturing output data around 0500 GMT.

We prefer to take short position on USD/SGD only below 1.3590, stop loss at 1.3640 and target of 1.3570/1.3522.