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

• USD/SGD is currently trading around 1.3545 marks.
   
• It made intraday high at 1.3553 and low at 1.3543 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 1.3575 mark.
   
• A daily close above 1.3551 will test key resistances at 1.3581, 1.3602, 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
   
• Alternatively, a consistent close below 1.3551 will drag the parity down towards key supports at 1.3499, 1.3515, 1.3465, 1.3422 and 1.3315 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• Singapore Dec 2018 non - oil exports yy decrease to -8.5 % (forecast 1.5 %) vs previous -2.8 % (revised from -2.6 %).
   
• Singapore Dec 2018 non - oil exports mm decrease to -5.7 % (forecast 2.1 %) vs previous -4.3 % (revised from -4.2 %).

We prefer to take short position on USD/SGD only below 1.3537, stop loss at 1.3575 and target of 1.3499/1.3465.