FxWirePro: Singapore dollar trades flat ahead of industrial production data
USD/SGD is currently trading around 1.3980 marks. It made intraday high at 1.4007 and low at 1.3978 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.4010 mark. A daily close above 1.4010…
It made intraday high at 1.4007 and low at 1.3978 levels.
Intraday bias remains neutral till the time pair holds key resistance at 1.4010 mark.
A daily close above 1.4010 will test key resistances at 1.4054, 1.4128, 1.4188, 1.4234, 1.4290 and 1.4357 marks respectively.
Alternatively, a consistent close below 1.3970 will drag the parity down towards key supports at 1.3938, 1.3852, 1.3790, 1.3748, 1.3702, 1.3643 and 1.3590 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Singapore will release industrial production data around 0500 GMT.
We prefer to take long position on USD/SGD only above 1.4010, stop loss 1.39 50 and target of 1.4087.
