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

• USD/SGD is currently trading around 1.3501 marks.
   
• It made intraday high at 1.3515 and low at 1.3495 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3550 mark.
   
• A daily close above 1.3512 will test key resistances at 1.3570, 1.3590, 1.3615, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3512 will drag the parity down towards key supports at 1.3490, 1.3465, 1.3422 and 1.3315 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 around 0500 GMT.

We prefer to take short position on USD/SGD around 1.3510, stop loss at 1.3550 and target of 1.3465/1.3422.