FxWirePro: Singapore dollar strengthens on robust property index

• USD/SGD is currently trading around 1.3067 marks.
   
• It made intraday high at 1.3126 and low at 1.3064 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3132 mark.
   
• A daily close above 1.3106 will test key resistances at 1.3132, 1.3176, 1.3208, 1.3254, 1.3302, 1.3353, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3106 will drag the parity down towards key support at 1.3005/1.2855/1.2754 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore Q4 preliminary unemployment decrease to 2.1 % vs previous 2.2 %.
   
• Singapore Q4 final URA property index increase to 0.8 % vs previous 0.7 %.

We prefer to take short position in USD/SGD around 1.3080, stop loss 1.3132 and target of 1.3005/1.2977.

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