FxWirePro: Singapore dollar falls in early Asia ahead of CPI data; hits lowest level since July 2009
USD/SGD is currently trading around 1.4585 marks. It made intraday high at 1.4586 and low at 1.4490 levels. Intraday bias remains bullish till the time pair holds key support at 1.4450 mark. A daily close above 1.4520 wi…
It made intraday high at 1.4586 and low at 1.4490 levels.
Intraday bias remains bullish till the time pair holds key support at 1.4450 mark.
A daily close above 1.4520 will test key resistances at 1.4622, 1.47, 1.4762, 1.4818 and 1.4850 marks respectively.
Alternatively, a consistent close below 1.4520 will drag the parity down towards key supports at 1.4450, 1.4383, 1.4210, 1.4174, 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 will release CPI data around 0500 GMT.
We prefer to take long position on USD/SGD around 1.4580, stop loss 1.4490 and target of 1.47.
