23.04.201721:03:00UTC+00Fxwirepro: Singapore Dollar Gains in Early Asia ahead of Singapore’s Cpi, Core Cpi Data

• USD/SGD is currently trading around 1.3935 marks.
   
• It made intraday high at 1.3969 and low at 1.3922 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 1.3992 marks. 
   
• A daily close above 1.3992 will test key resistances at 1.4027, 1.4077, 1.4160, 1.4219, 1.4266, 1.4327, 1.4409 and 1.4506 levels respectively.
   
• Alternatively, a consistent close below 1.3969 will drag the parity down towards key supports at 1.3908/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore will release CPI, core CPI data at 0500 GMT.

We prefer to go short on USD/SGD only below 1.3908. stop loss 1.3992 and target of 1.3826.