FxWirePro: Singapore dollar trades marginally lower ahead of CPI data

• USD/SGD is currently trading around 1.4012 marks.
   
• It made intraday high at 1.4028 and low at 1.3978 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3978 mark.
   
• A daily close above 1.4010 will test key resistances at 1.4054, 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
   
• Alternatively, a consistent close below 1.4010 will drag the parity down towards key supports at 1.3938, 1.3852, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Singapore will release CPI data around 0500 GMT.

We prefer to take long position on USD/SGD around 1.4000, stop loss 1.3962 and target of 1.4128/1.4188/1.4234.