FxWirePro: Singapore dollar trades marginally higher ahead of manufacturing output data

• USD/SGD is currently trading around 1.3273 marks.
   
• It made intraday high at 1.3289 and low at 1.3270 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3288 mark.
   
• A daily close above 1.3288 will test key resistances at 1.3340, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3288 will drag the parity down towards key support at 1.3218/1.3150/1.3076/1.3005/1.2855/1.2754 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Singapore will release manufacturing output data at 0500 GMT.

We prefer to take long position on USD/SGD only above 1.3290, stop loss 1.3218 and target of 1.3340/1.3378.

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