FxWirePro: USD/SGD hovers around key resistance at 1.3628, retail sales data eye

• USD/SGD is currently trading around 1.3617 marks.
   
• It made intraday high at 1.3657 and low at 1.3611 levels.
   
• Intraday bias remains neutral till the time pair holds initial resistance at 1.3628 levels.
   
• A sustained close above 1.3628 tests key resistances at 1.3772/ 1.3817/ 1.3842 marks respectively.
   
• A daily close below 1.3543 will drag the parity down towards 1.3415/1.3318/1.3302 levels.
   
• Singapore will release retail sales data within few minutes. Market anticipates a decrease of 4.5% y/y vs 7.5% previous release.  
   
• Important to note here that, 20D, 30D and 55D EMA heads down in daily chart and confirms bearish trend.

We prefer to take short position in USD/SGD only below 1.3602, stop loss 1.3668 and target 1.3497/1.3415 levels.