- USD/SGD is currently trading around 1.4265 marks.
- It made intraday high at 1.4299 and low at 1.4265 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 1.4318 mark.
- A daily close above 1.4318 will test key resistances at 1.4360, 1.4444, 1.4542, 1.4606, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
- Alternatively, a consistent close below 1.4277 will drag the parity down towards key supports at 1.4250, 1.4182, 1.4150, 1.4097, 1.4062, 1.3938 and 1.3870 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Singapore will release CPI data around 0500 GMT.
We prefer to take short position on USD/SGD around 1.4275, stop loss at 1.43 and target of 1.4182.
