FxWirePro: Singapore dollar remains almost unchanged after non – oil exports, trade balance data
USD/SGD is currently trading around 1.3609 marks. It made intraday high at 1.3610 and low at 1.3601 levels. Intraday bias remains neutral till the time pair holds key support at 1.3590 mark. A daily close above 1.3604 wi…
It made intraday high at 1.3610 and low at 1.3601 levels.
Intraday bias remains neutral till the time pair holds key support at 1.3590 mark.
A daily close above 1.3604 will test key resistances at 1.3637, 1.3670, 1.3706, 1.3770, 1.3790, 1.3827, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
Alternatively, a consistent close below 1.3604 will drag the parity down towards key supports at 1.3590, 1.3570, 1.3522, 1.3490, 1.3447 and 1.3387 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Singapore non – oil exports Oct m/m stands at -2.9 pct vs -3.3 pct previous release (expected 1.4).
Singapore non – oil exports Oct y/y stands at -12.3 pct vs -8.10 pct previous release (expected -10.4).
Singapore’s trade balance stands at 3.780B vs 3.830B previous release.
We prefer to take short position on USD/SGD only below 1.3590, stop loss at 1.3637 and target of 1.3570/1.3522.
