FxWirePro: Singapore dollar trades marginally lower in early Asia despite robust non-oil exports data

• USD/SGD is currently trading around 1.3510 marks.
   
• It made intraday high at 1.3534 and low at 1.3510 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 1.3511 will test key resistances at 1.3532, 1.3587 and 1.3624 levels respectively.
   
• Alternatively, a consistent close below 1.3510 will drag the parity down towards key support at 1.3430/1.3390/1.3307/1.3255/1.3218/1.3120 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• Singapore May Non-Oil domestic exports +10.3 pct m/m seasonally adjusted (poll +1.0 pct).
   
• Singapore May Non-Oil domestic exports +15.5 pct y/y (poll +4.7 pct).

We prefer to take long position on USD/SGD around 1.3510, stop loss 1.3470 and target of 1.3587.