FxWirePro: Singapore dollar trades marginally lower despite robust URA property index data

• USD/SGD is currently trading around 1.4255 marks.
   
• It made intraday high at 1.4271 and low at 1.4235 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key support at 1.4210 mark.
   
• A daily close above 1.4243 will test key resistances at 1.4318, 1.4360, 1.4444, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
   
• Alternatively, a consistent close below 1.4243 will drag the parity down towards key supports at 1.4210, 1.4182, 1.4150, 1.4097, 1.4062, 1.3938 and 1.3870 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Singapore’s URA property index q/q stands at -1.00 vs 0.5 pct previous release (expected -1.2).

We prefer to take short position on USD/SGD only below 1.4210, stop loss at 1.4270 and target of 1.4150.