FxWirePro: Singapore dollar trades marginally higher in early Asia, retail sales data in focus

• USD/SGD is currently trading around 1.3285 marks.
   
• It made intraday high at 1.3295 and low at 1.3277 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3369 mark.
   
• A daily close above 1.3293 will test key resistances at 1.3369, 1.3438, 1.3532, 1.3580, 1.3602, 1.3652, 1.3715, 1.3768, 1.3822 and 1.3949 levels respectively.
   
• Alternatively, a consistent close below 1.3293 will drag the parity down towards key support at 1.3259/1.3217/1.3164/1.3015 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 retail sales data at 0500 GMT.

We prefer to take short position in USD/SGD around 1.3290, stop loss 1.3330 and target of 1.3255/1.3217.

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