FxWirePro: Singapore dollar trades marginally lower as GDP data misses expectations

• USD/SGD is currently trading around 1.3735 marks.
   
• It made intraday high at 1.3740 and low at 1.3725 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 1.3725 mark.
   
• A daily close above 1.3725 will test key resistances at 1.3770, 1.3790, 1.3838, 1.3872, 1.3905, 1.3948 and 1.4050 levels respectively.
   
• Alternatively, a consistent close below 1.3725 will drag the parity down towards key supports at 1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Singapore Q3 2018 GDP final qq decrease to 3 % (forecast 4.2 %) vs previous 4.7 %.
   
• Singapore Q3 2018 GDP final yy decrease to 2.2 % (forecast 2.4 %) vs previous 2.6 %.

We prefer to take short position on USD/SGD only below 1.3720, stop loss at 1.3770 and target of 1.3654.