FxWirePro: Singapore dollar falls on the back of lower than expected GDP data

• USD/SGD is currently trading around 1.3845 marks.
   
• It made intraday high at 1.3864 and low at 1.3775 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3772 marks.
   
• A sustained close above 1.3842 will test key resistances at 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover) marks respectively.
   
• Alternatively, a consistent break below 1.3772 will drag the parity down towards key supports at 1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Singapore Q3 GDP -4.1 pct q/q annualised and seasonally adjusted; poll +0.3 pct.
   
• Singapore Q3 GDP +0.6 pct from year ago; poll +1.7 pct.

We prefer to go long on USD/SGD around 1.3830 with stop loss at 1.3772 and target of 1.4073.