FxWirePro: Singapore dollar trades flat ahead of CPI, manufacturing output data

• USD/SGD is currently trading around 1.3437 marks.
   
• It made intraday high at 1.3444 and low at 1.3432 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 1.3432 mark.
   
• A daily close above 1.3432 will test key resistances at 1.3472, 1.3532, 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
   
• Alternatively, a consistent close below 1.3432 will drag the parity down towards key support at 1.3396/1.3346/1.3217/1.3164/1.3005 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore will release CPI as well as manufacturing output data at 0500 GMT.

We prefer to take short position in USD/SGD only below 1.3432, stop loss 1.3475 and target of 1.3396/1.3346.

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