Fxwirepro: Singapore Dollar falls in Early Hours of Asia ahead of Cpi Data



USD/SGD is currently trading around 1.3613 marks.
It made intraday high at 1.3619 and low at 1.3573 levels. Intraday bias remains bullish till the time pair holds key support at 1.3539 marks. A daily close below 1.3539 will drag the parity down towards key supports at 1.3496/1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3627 will tests key resistances at 1.3646, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend. Current upside movement is short term trend correction only.
Singapore will release CPI data at 0500 GMT.
We prefer to take long position in USD/SGD around 1.3602, stop loss 1.3539 and target 1.3740.

News are provided byInstaForex.