FxWirePro: USD/SGD remains well supported above 1.35, upside limited

• USD/SGD is currently trading around 1.3532 marks.
   
• It made intraday high at 1.3542 and low at 1.3509 levels.
   
• Intraday bias remains bullish till the time pair holds initial support at 1.3489 levels.
   
• A sustained close above 1.3552 tests key resistances at 1.3628/1.3772/ 1.3817/ 1.3842 marks respectively.
   
• A daily close below 1.3489 will drag the parity down towards 1.3423/1.3352/1.3318/1.3302 levels.
   
• Yesterday Singapore released CPI data with negative numbers at -1.0% y/y vs -0.8% y/y previous release.
   
• Today Singapore will release industrial production data at 0500 GMT. Market anticipates a rise to 1.0% m/m vs -4.8% previous release.

We prefer to take short position in USD/SGD around 1.3542, stop loss 1.3565 and target 1.3414/1.3361 levels.