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 wi…
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.
