FxWirePro: Singapore dollar marginally lower despite higher than expected non-oil export data

• USD/SGD is currently trading around 1.4027 marks.
   
• It made intraday high at 1.4028 and low at 1.4008 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.4000 marks.
   
• A daily close above 1.4012 will test key resistances at 1.4090, 1.4160, 1.4219, 1.4266, 1.4327, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.
   
• Alternatively, a consistent close below 1.4012 will drag the parity down towards key supports at 1.3975/1.3851/1.3775/1.3704/1.3646 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore’s February non-oil domestic exports +21.5 pct from year earlier; poll +12.8 pct.
   
• Singapore’s February non-oil domestic exports +1.4 pct m/m after seasonal adjustment; poll +0.8 pct.
   
• Singapore’s February domestic exports of electronics +17.2 pct from year earlier.

We prefer to take short position in USD/SGD only below 1.4006, stop loss 1.4090 and target of 1.3975/1.3920.