FxWirePro: Singapore dollar remains almost unchanged after non – oil exports, trade balance data

• USD/SGD is currently trading around 1.3609 marks.
   
• It made intraday high at 1.3610 and low at 1.3601 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3590 mark.
   
• A daily close above 1.3604 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
   
• Alternatively, a consistent close below 1.3604 will drag the parity down towards key supports at 1.3590, 1.3570, 1.3522, 1.3490, 1.3447 and 1.3387 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore non – oil exports Oct m/m stands at -2.9 pct vs -3.3 pct previous release (expected 1.4).
   
• Singapore non – oil exports Oct y/y stands at -12.3 pct vs -8.10 pct previous release (expected -10.4).
   
• Singapore’s trade balance stands at 3.780B vs 3.830B previous release.

We prefer to take short position on USD/SGD only below 1.3590, stop loss at 1.3637 and target of 1.3570/1.3522.