FxWirePro: Singapore dollar falls on the back of lower than expected non – oil exports data

• USD/SGD is currently trading around 1.3545 marks.
   
• It made intraday high at 1.3551 and low at 1.3511 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 1.3492 mark.
   
• A daily close above 1.3516 will test key resistances at 1.3580, 1.3637, 1.3692, 1.3788, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
   
• Alternatively, a consistent close below 1.3516 will drag the parity down towards key supports at 1.3492/1.3460/1.3418/1.3346/1.3217/1.3164/1.3005 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• Singapore September non - oil domestic exports -11.0 pct m/m seasonally adjusted (poll -0.1 pct).
   
• Singapore September non - oil domestic exports -1.1 pct y/y(poll +12.7 pct).

We prefer to take long position in USD/SGD around 1.3540, stop loss 1.3492 and target of 1.3580.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest