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FxWirePro: Singapore dollar trades marginally lower ahead of manufacturing output data

USD/SGD is currently trading around 1.3414 marks. It made intraday high at 1.3416 and low at 1.3392 levels. Intraday bias remains bullish till the time pair holds key support at 1.3390 mark. A daily close above 1.3433 wi…

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FxWirePro: Singapore dollar trades marginally lower ahead of manufacturing output data
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  • USD/SGD is currently trading around 1.3414 marks.
     
  • It made intraday high at 1.3416 and low at 1.3392 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1.3390 mark.
     
  • A daily close above 1.3433 will test key resistances at 1.3482, 1.3532 and 1.3587 levels respectively.
     
  • Alternatively, a consistent close below 1.3390 will drag the parity down towards key support at 1.3350/1.3311/1.3255/1.3218 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 manufacturing output data at 0500 GMT.

    We prefer to take short position on USD/SGD only below 1.3390, stop loss 1.3450 and target of 1.3311.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invests

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