FxWirePro: Singapore dollar trades almost flat after trade balance, non – oil exports data

• USD/SGD is currently trading around 1.4194 marks.
   
• It made intraday high at 1.4231 and low at 1.4174 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.4234 mark.
   
• A daily close above 1.4209 will test key resistances at 1.4234, 1.4290 and 1.4357 marks respectively.
   
• Alternatively, a consistent close below 1.4209 will drag the parity down towards key supports at 1.4102, 1.4044, 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’s trade balance stands at 1.090B vs 1.580B previous release.
   
• Singapore’s non – oil exports data m/m stands at -4.8 pct vs 4.5 pct previous release (expected -3.8 pct).
   
• Singapore’s non – oil exports data y/y stands at 3.0 pct vs -3.3 pct previous release (expected -7.8 pct).

We prefer to take long position on USD/SGD only above 1.4232, stop loss 1.4150 and target of 1.4290.