FxWirePro: USD/SGD fails to drop below 1.3908 mark, bias remains neutral

• USD/SGD is currently trading around 1.3932 marks.
   
• It made intraday high at 1.3937 and low at 1.3925 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3908 marks. 


• A daily close above 1.3926 will test key resistances at 1.3992, 1.4027, 1.4077, 1.4160, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.3926 will drag the parity down towards key supports at 1.3908/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Yesterday Singapore released CPI, core CPI data.
   
• Singapore March all items CPI +0.7 pct y/y (poll +0.7 pct).
   
• Singapore March core CPI +1.2 pct y/y (poll +1.3 pct).

We prefer to go short on USD/SGD only below 1.3908, stop loss 1.3992 and target of 1.3826.