FxWirePro: USD/SGD remains well supported above 1.42 mark, Singapore’s retail sales data in focus

• USD/SGD is currently trading around 1.4274 marks.
   
• It made intraday high at 1.4289 and low at 1.4256 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.4292 mark.  
   
• A daily close above 1.4292 will test key resistances at 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
   
• Alternatively, a consistent close below 1.4272 will drag the parity down towards key supports at 1.4202/1.4150/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short trend correction only.
   
• Singapore will release retail sales data at 0500 GMT.

We prefer to take long position in USD/SGD only above 1.4292, stop loss 1.4216 and target of 1.4409.