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

• USD/SGD is currently trading around 1.3652 marks.
   
• It made intraday high at 1.3663 and low at 1.3651 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3675 marks.
   
• A daily close above 1.3660 will test key resistances at 1.3690, 1.3720, 1.3780, 1.3820, 1.3854 and 1.3905 levels respectively.
   
• Alternatively, a consistent close below 1.3660 will drag the parity down towards key supports at 1.3638/1.3607/1.3570/1.3510/1.3450 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
   
• Singapore will release manufacturing output data at 0500 GMT.

We prefer to take short position on USD/SGD around 1.3665, stop loss at 1.3690 and target of 1.3607.