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

• USD/SGD is currently trading around 1.3629 marks.
   
• It made intraday high at 1.3634 and low at 1.3622 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1.3592 mark.
   
• A daily close above 1.3622 will test key resistances at 1.3676, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
   
• Alternatively, a consistent close below 1.3622 will drag the parity down towards key supports at 1.3592/1.3554/1.3512 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 manufacturing output data at 0500 GMT.

We prefer to take short position in USD/SGD only below 1.3622, stop loss 1.3676 and target of 1.3554.

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