FxWirePro: Singapore dollar trades almost flat after non – oil exports data

• USD/SGD is currently trading around 1.3586 marks.
   
• It made intraday high at 1.3591 and low at 1.3580 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 1.3590 will test key resistances at 1.3638, 1.3680, 1.3760, 1.3813, 1.3854 and 1.3945 marks respectively.
   
• Alternatively, a consistent close below 1.3550 will drag the parity down towards key supports at 1.3512, 1.3454, 1.3388 and 1.3320 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 export data at -7.6 pct m/m vs 5.8 pct previous release.

We prefer to take short position on USD/SGD only below 1.3570, stop loss at 1.3590 and target of 1.3512.