- USD/SGD is currently trading around 1.3794 marks.
- It made intraday high at 1.3809 and low at 1.3786 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 1.3820 marks.
- A daily close above 1.3801 will test key resistances at 1.3820, 1.3854 and 1.3905 levels respectively.
- Alternatively, a consistent close below 1.3787 will drag the parity down towards key supports at 1.3746/1.3690/1.3652/1.3607/1.3570/1.3510/1.3450 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- Fitch says Singapore's 'AAA' rating reflects strong external balance sheet, which is supported by substantial current account surpluses, sound fiscal framework.
- Fitch says has a stable outlook on Singapore banking sector to reflect banks' strong fundamentals.
- Fitch says expects GDP to expand by 3.4% in 2018, forecasts GDP growth to stabilise at around 3.2% in 2019 and 2020.
We prefer to take long position on USD/SGD only above 1.3820, stop loss at 1.3740 and target of 1.3888.
