FxWirePro: USD/SGD trades in narrow range, bias remains neutral

• USD/SGD is currently trading around 1.4054 marks.
   
• It made intraday high at 1.4065 and low at 1.4040 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.4042 marks.
   
• A daily close above 1.4042 will test key resistances at 1.4092, 1.4161, 1.4205, 1.4327, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
   
• Alternatively, a consistent close below 1.4042 will drag the parity down towards key supports at 1.40/1.3972/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Singapore January bank lending S$617.
   
• Singapore January housing and bridging loans at s$ 192.5 bln vs s$ 185.3 bln year earlier.

We prefer to take short position in USD/SGD only below 1.4042, stop loss at 1.4092 and target of 1.4000/1.3972.