FxWirePro: USD/SGD hits fresh 3-week high at 1.3176 mark, Singapore’s CPI data in focus

• USD/SGD is currently trading around 1.3168 marks.
   
• It made intraday high at 1.3176 and low at 1.3154 levels.
   
• Intraday bias remains slightly bullish till the time pair holds key resistance at 1.3105 mark.
   
• A daily close above 1.3164 will test key resistances at 1.3202, 1.3232, 1.3285, 1.3340, 1.3438 and 1.3532 levels respectively.
   
• Alternatively, a consistent close below 1.3164 will drag the parity down towards key support at 1.3076/1.3005/1.2855/1.2754 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Singapore will release CPI, core CPI data at 0500 GMT.

We prefer to take long position on USD/SGD around 1.3150, stop loss 1.3076 and target of 1.3202/1.3285.

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