FxWirePro: Singapore dollar trades marginally higher ahead of CPI, core CPI data

• USD/SGD is currently trading around 1.3540 marks.
   
• It made intraday high at 1.3560 and low at 1.3536 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3590 marks.
   
• A daily close above 1.3552 will test key resistances at 1.3590, 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
   
• Alternatively, a consistent close below 1.3552 will drag the parity down towards key supports at 1.3520, 1.3454 and 1.3388 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 core CPI data at 0500 GMT.  

We prefer to take short position on USD/SGD around 1.3555, stop loss at 1.3590 and target of 1.3520/1.3454.