FxWirePro: Singapore dollar trades marginally higher despite lower than expected non – oil exports data

• USD/SGD is currently trading around 1.3760 marks.
   
• It made intraday high at 1.3772 and low at 1.3757 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 1.3765 will test key resistances at 1.3775, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
   
• Alternatively, a consistent close below 1.3765 will drag the parity down towards key supports at 1.3720/1.3690/1.3668/1.3620/1.3570/1.3510 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore Nov 2018 non - oil exports yy decrease to -2.6 % (forecast 1.2 %) vs previous 8.2 % (revised from 8.3 %).
   
• Singapore Nov 2018 non - oil exports mm decrease to -4.2 % (forecast 0.6 %) vs previous 4.2 %.

We prefer to take long position on USD/SGD only above 1.3775, stop loss at 1.3720 and target of 1.3838/1.3872.