FxWirePro: Singapore dollar rises gradually against U.S. dollar, bias remains bearish

• USD/SGD is currently trading around 1.3443 marks.
   
• It made intraday high at 1.3465 and low at 1.3443 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3480 mark.
   
• A daily close above 1.3453 will test key resistances at 1.3480, 1.3538, 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 1.3453 will drag the parity down towards key supports at 1.3439/1.3346/1.3217/1.3164/1.3005 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore August non-oil domestic exports +4.5 pct m/m seasonally adjusted (poll +3.1 pct).
   
• Singapore August non-oil domestic exports +17.0 pct y/y (poll +11.8 pct).

We prefer to take short position in USD/SGD around 1.3455, stop loss 1.3501 and target of 1.3346.

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